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  • School of Business, Economics and Law / Handelshögskolan
  • Department of Economics / Institutionen för nationalekonomi med statistik
  • Working papers
  • Redigera dokument
  •   Startsida
  • School of Business, Economics and Law / Handelshögskolan
  • Department of Economics / Institutionen för nationalekonomi med statistik
  • Working papers
  • Redigera dokument
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Real Exchange Rate Adjustment In European Transition Countries

Sammanfattning
This paper presents unit-root test results for real exchange rates in ten Central and Eastern European transition countries during 1993:01-2003:12. Because of the shift from controlled to market economies and the accompanying crises, failed policy regimes and changes in exchange rate regimes, appropriate tests in transition countries require allowing for both structural changes and outliers. In both single-equation tests and panel tests with SUR techniques, the data reject the unit-root null for the CEE countries. Accounting for structural breaks and outliers gives much faster mean-reversion speeds than otherwise.
Universitet
Göteborg University. School of Business, Economics and Law
URL:
http://hdl.handle.net/2077/2715
Samlingar
  • Working papers
Fil(er)
gunwpe0202.pdf (257.3Kb)
Datum
2006
Författare
Sweeney, Richard J.
Maican, Florin G.
Nyckelord
Purchasing power parity; real exchange rate; Monte Carlo; unit root; transition countries; panel data.
Publikationstyp
Report
ISSN
1403-2465
Serie/rapportnr.
Working Papers in Economics, nr 202
Språk
en
Metadata
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