Koumkwa, Samuel; Susmel, Raúl - In: Journal of Applied Economics XI (2008) November, pp. 399-425
reduced by half. The average half-life of a shock to price parity is 3.1 business days, while the median half-life is 1 ….1 business days. By allowing a non-linear adjustment process, the average half-life is reduced by more than 50% when compared to …