Stochastic behaviour of the real exchange rate for Jordan: a re-examination

The purpose of this article is to re-examine the validity of the long-run purchasing power parity (PPP) hypothesis for Jordan. Using a Markov-switching model, we provide some evidence that the real exchange rate of Jordan is stationary during periods of low real exchange rate volatility and nonstationary during periods of high real exchange rate volatility.

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Year of publication:	2009
Authors:	Bolatoglu, Nasip ; Telatar, Funda ; Telatar, Erdinc
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 16.2009, 1, p. 81-85
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005437778