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Exchange rate variations and the behaviour of the purchasing department

✍ Scribed by Näslund, Bertil


Book ID
122597238
Publisher
Elsevier Science
Year
1981
Tongue
English
Weight
413 KB
Volume
9
Category
Article
ISSN
0305-0483

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International real interest rate differe
✍ Mark P. Taylor; Lucio Sarno 📂 Article 📅 2004 🏛 John Wiley and Sons 🌐 English ⚖ 115 KB 👁 1 views

## Abstract According to one strand of the international finance literature, market efficiency implies that the real exchange rate follows a martingale process, in direct conflict with the long‐run absolute purchasing power parity hypothesis, which requires a stationary real exchange rate process.