Mean Reversion of Real Exchange Ratesin High-Inflation Countries

We test for mean reversion in real exchange rates using data from five countries, four of whichhave experienced episodes of high inflation. We use monthly data for Argentina, Brazil, Chile,Colombia and Israel from 1972 to 1993 and find that in all cases except Brazil a stochastic unitroot model is appropriate...

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Authors:	Bleaney, Michael F. ; Leybourne, Stephen J. ; Mizen, Paul
Institutions:	University <Nottingham> / Department of Economics
Subject:	Stochastik \| Fester Zins \| Wechselkurs \| Inflation \| Reversion \| Mean-reversion

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Extent:	50176 bytes 16 p. application/pdf
Series:	The University of Nottingham / School of Economics - discussion papers DISCUSSION PAPER ; NO. 99/13
Type of publication:	Book / Working Paper
Language:	English
Classification:	Financial theory ; Procurement of capital ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005869305