Coakley, Jerry; Fuertes, Ana-Maria - In: Manchester School 68 (2000) 4, pp. 461-75
The short-run dynamics of German mark and US dollar real exchange rates are investigated for a panel of 19 OECD economies in a vector error correction framework for the 1973-96 period. The novel persistence profiles approach of Pesaran and Shin (1996) indicates that the effect of system-wide...