Title of article
Aggregaterealexchangeratepersistencethroughthelensof sectoraldata
Author/Authors
Laura Mayoral، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2011
Pages
15
From page
290
To page
304
Abstract
A novelapproachtoanalyzingrealexchangerate(RER)persistenceanditssourcesis
presented.UsinghighlydisaggregateddataforagroupofEU-15countries,itisshown
thatthedistributionofsectoralpersistenceishighlyheterogeneousandskewedtothe
right,sothatalimitednumberofsectorsareresponsibleforthehighlevelsof
persistenceobservedattheaggregatelevel.Quantileregressionhasbeenemployed
to investigatewhethertraditionaltheories,suchasthelackofarbitragedueto
nontradabilityorimperfectcompetitioncombinedwithpricestickiness,areableto
accountfortheslowreversiontoparityofRERs
Journal title
Journal of Monetary Economics
Serial Year
2011
Journal title
Journal of Monetary Economics
Record number
846472
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