全球智库信息集成服务系统(G2TT): Accounting for Real Exchange Rates Using Micro-data

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w17812
来源ID	Working Paper 17812
	Accounting for Real Exchange Rates Using Micro-data
	Mario J. Crucini; Anthony Landry
发表日期	2012-02-02
出版年	2012
语种	英语
摘要	The classical dichotomy predicts that all of the time series variance in the aggregate real exchange rate is accounted for by non-traded goods in the CPI basket because traded goods obey the Law of One Price. In stark contrast, Engel (1999) found that traded goods had comparable volatility to the aggregate real exchange rate. Our work reconciles these two views by successfully applying the classical dichotomy at the level of intermediate inputs into the production of final goods using highly disaggregated retail price data. Since the typical good found in the CPI basket is about equal parts traded and non-traded inputs, we conclude that the classical dichotomy applied to intermediate inputs restores its conceptual value.
主题	International Economics ; International Factor Mobility ; International Finance ; International Macroeconomics
URL	https://www.nber.org/papers/w17812
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/575487
推荐引用方式 GB/T 7714	Mario J. Crucini,Anthony Landry. Accounting for Real Exchange Rates Using Micro-data. 2012.