| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1480 |
| DP1480 Is Technical Analysis in the Foreign Exchange Market Profitable? A Genetic Programming Approach | |
| Paul Weller; Christopher J Neely; Robert Dittmar | |
| 发表日期 | 1996-09-30 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | The Balassa-Samuelson model, which explains real exchange rate movements in terms of sectoral productivities, rests on two components. First, the model implies that the relative price of non-traded goods in each country should reflect the relative productivity of labour in the traded and non-traded goods sectors. Second, the model assumes that purchasing power parity (PPP) holds for traded goods in the long run. We test each of these implications using data from a panel of OECD countries. Our results suggest that the first of these two fits the data quite well. The evidence on purchasing power parity in traded goods is considerably less favourable. When we look at US dollar exchange rates, PPP does not appear to hold for traded goods, even in the long run. When we look at Deutsche Mark exchange rates, PPP appears to be a somewhat better characterization of traded goods prices. |
| 主题 | International Macroeconomics |
| 关键词 | Real exchange rates |
| URL | https://cepr.org/publications/dp1480 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530618 |
| 推荐引用方式 GB/T 7714 | Paul Weller,Christopher J Neely,Robert Dittmar. DP1480 Is Technical Analysis in the Foreign Exchange Market Profitable? A Genetic Programming Approach. 1996. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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