| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5237 |
| DP5237 'Aggregation Bias' DOES Explain the PPP Puzzle | |
| Morten Ravn; Helene Rey; Jean Imbs; Haroon Mumtaz | |
| 发表日期 | 2005-09-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | Large devaluations are generally associated with large declines in real exchange rates. We develop a model which embodies two complementary forces that account for the large declines in the real exchange rate that occur in the aftermath of large devaluations. The first force is sticky nontradable goods prices. The second force is the impact of real shocks that often accompany large devaluations. We argue that sticky nontradable goods prices generally play an important role in explaining post-devaluation movements in real exchange rates. However, real shocks can sometimes be primary drivers of real exchange rate movements. |
| 主题 | International Macroeconomics |
| 关键词 | exchange rate Devaluations Passthrough Sticky prices |
| URL | https://cepr.org/publications/dp5237 |
| 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/534109 |
| 推荐引用方式 GB/T 7714 | Morten Ravn,Helene Rey,Jean Imbs,et al. DP5237 'Aggregation Bias' DOES Explain the PPP Puzzle. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
