The real exchange rate and household consumption heterogeneity: Testing Kocherlakota and Pistaferri's (2007) model

被引：2
|
作者：
Kollmann, Robert [1 ,2 ,3 ]
机构：
[1] Univ Libre Bruxelles, Solvay Brussels Sch Econ & Management, Brussels, Belgium
[2] Ctr Econ Policy Res CEPR, London, England
[3] Univ Paris Est Creteil UPEC, ERUDITE, Creteil, France
来源：
ECONOMICS LETTERS | 2021年 / 209卷
基金：
中国博士后科学基金;
关键词：
Household consumption heterogeneity; Real exchange rate;
D O I：
10.1016/j.econlet.2021.110110
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Does household heterogeneity matter for exchange rate determination? This paper tests Kocherlakota and Pistaferri's (2007) prominent heterogeneous agent model, in which the real exchange rate perfectly tracks relative domestic/foreign moments of cross-household consumption distributions. The evidence presented here indicates that the real exchange rate is disconnected from relative cross-household consumption moments. (C) 2021 Elsevier B.V. All rights reserved.
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页数：4
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