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Structure of financial markets and real indeterminacy of equilibria

✍ Scribed by Jan Werner


Publisher
Elsevier Science
Year
1990
Tongue
English
Weight
973 KB
Volume
19
Category
Article
ISSN
0304-4068

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## Abstract We examine the relationship between market structure and the persistence of US dollar‐based sectoral real exchange rates for 14 OECD countries. Our empirical results based on disaggregated data suggest that differences in market structure significantly determine the rates at which devia