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Adjustment policies and the real exchange rate in Kenya since 1975

✍ Scribed by Albert W. De Groot

Book ID
113327061
Publisher
Elsevier Science
Year
1991
Tongue
English
Weight
720 KB
Volume
19
Category
Article
ISSN
0305-750X

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This paper examines whether deviations from PPP are stationary in the presence of nonlinearity, and whether the adjustment towards PPP is symmetric from above and below. Using alternative nonlinear models, our results support mean reversion and asymmetric adjustment dynamics. We find differences in