LEE, Inkoo; SHIN, Jonghyup - East Asian Bureau of Economic Research (EABER) - 2008
real exchange rate. In particular, we develop a simple general equilibrium model and evaluate the quantitative performance … of the model in replicating the dynamic properties of the real exchange rate. The simulation results show that … rationalize observed real exchange rate dynamic properties. The benchmark model matches 95% of the persistence and 90% of the …