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Non-linear adjustment of real wages, employment and output in the UK

✍ Scribed by Byers, J.D.; Peel, D.A.


Book ID
121736325
Publisher
Taylor and Francis Group
Year
1994
Tongue
English
Weight
324 KB
Volume
26
Category
Article
ISSN
0003-6846

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A non-linear model of the real US/UK exc
✍ John Creedy; Jenny Lye; Vance L. Martin πŸ“‚ Article πŸ“… 1996 πŸ› John Wiley and Sons 🌐 English βš– 1018 KB

This paper provides a framework for building and estimating non-linear real exchange rate models. The approach derives the stationary distribution from a continuous time error correction model and estimates this by MLE methods. The derived distribution exhibits a wide variety of distributional shape