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Interpreting real exchange rate movements in transition countries

✍ Scribed by Mark De Broeck; Torsten Sløk


Book ID
116659399
Publisher
Elsevier Science
Year
2006
Tongue
English
Weight
282 KB
Volume
68
Category
Article
ISSN
0022-1996

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## Abstract As the real exchange rate of developing countries is especially vulnerable to stochastic events, standard unit root tests do not capture such events adequately. Using a Markov switching extension of the ADF test, which incorporates stochastic regime switching, we address the issue of re