Cheung, Yin-Wong; Chinn, Menzie; Fujii, Eiji - In: International Journal of Finance & Economics 6 (2001) 2, pp. 95-114
We examine the relationship between market structure and the persistence of US dollar-based sectoral real exchange rates for 14 OECD countries. Our empirical results based on disaggregated data suggest that differences in market structure significantly determine the rates at which deviations...