Paya, Ivan (contributor); Peel, David (contributor) - 2006
magnitude of the coe� cients makes economic interpreta-
tion of PPP cumbersome. Using theoretically well motivated nonlinear …
papers published which suggest that purchasing power deviations (PPP) can be
parsimoniously described by a nonlinear … nonlinear adjustment of the real exchange rate to
purchasing power parity. Whilst globally mean reverting this nonlinear process …