| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1939 |
| DP1939 Financial Opening, Deposit Insurance and Risk in a Model of Banking Competition | |
| Tito Cordella | |
| 发表日期 | 1998-07-31 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | We examine the mean-reverting properties of real exchange rates, by comparing the unit root properties of a group of international real exchange rates with two groups of intra-national real exchange rates. Strikingly, we find that while the international real rates taken as a group are mean-reverting, the intra-national rates are not. This is consistent with the view that while monetary shocks may be mean-reverting over the medium-term, underlying real factors do generate long-term trends in real exchange rates. |
| 主题 | International Macroeconomics |
| 关键词 | Exchange rates Stationarity |
| URL | https://cepr.org/publications/dp1939 |
| 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/531072 |
| 推荐引用方式 GB/T 7714 | Tito Cordella. DP1939 Financial Opening, Deposit Insurance and Risk in a Model of Banking Competition. 1998. |
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