Mignon, Valerie; Dufrenot, Gilles; Chaouachi, Slim - In: Economics Bulletin 3 (2004) 19, pp. 1-11
This paper proposes a comparison of three nonlinear error-correction models to account for the asymmetric and slow adjustment dynamics of the Dollar-Sterling real exchange rate over a long period (1957-2002). We conclude that two NEC models adequately describe the nonlinear mean-reverting...
