| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2973 |
| DP2973 The World Income Distribution | |
| Daron Acemoğlu; Jaume Ventura | |
| 发表日期 | 2001-09-26 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | This Paper tests for uncovered interest parity (UIP) using daily data for twenty-three developing and developed countries through the crisis-strewn 1990s. We find that UIP works better on average in the 1990s than in previous eras in the sense that the slope coefficient from a regression of exchange rate changes on interest differentials yields a positive coefficient (which is sometimes insignificantly different from unity). UIP works systematically worse for fixed and flexible exchange rate countries than for crisis countries, but we find no significant differences between rich and poor countries. Finally, we find evidence that varies considerably across countries and time, but is usually weakly consistent with an effective ?interest rate defense? of the exchange rate. |
| 主题 | International Macroeconomics |
| 关键词 | Empirical exchange rate Fixed Floating Developing Developed |
| URL | https://cepr.org/publications/dp2973 |
| 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/532003 |
| 推荐引用方式 GB/T 7714 | Daron Acemoğlu,Jaume Ventura. DP2973 The World Income Distribution. 2001. |
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