Aloy, Marcel; Boutahar, Mohamed; Gente, Karine; … - In: Economic Modelling 28 (2011) 3, pp. 1279-1290
This paper examines the time series behavior of monthly bilateral real exchange rates (RER) on a comprehensive sample of 78 industrialized and developing countries, using the US Dollar, the UK Pound and the German Deutsche Mark as numeraires. We suggest a three step testing procedure based on...