Noriega, Antonio E.; Medina, Lorena - In: Estudios Económicos 18 (2003) 2, pp. 227-236
This paper analyzes whether the real exchange-rate of the Mexican peso/US dollar revert to a long-run equilibrium value, and whether this value is unique. We use a method for testing stationarity, that allows for an unknown number of structural breaks in the level of the series. Using a long...