Real exchange rate behavior in the Middle East: a re-examination

被引：58
|
作者：
Sarno, L [1 ]
机构：
[1] Univ Oxford Univ Coll, Oxford OX1 4BH, England
[2] Columbia Univ, New York, NY 10027 USA
来源：
ECONOMICS LETTERS | 2000年 / 66卷 / 02期
关键词：
purchasing power parity; real exchange rate; Middle East; nonlinearity;
D O I：
10.1016/S0165-1765(99)00192-5
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This letter extends recent work by Bahmani-Oskooee (Bahmani-Oskooee, M., Do exchange rates follow a random walk process in Middle Eastern countries? Economics Letters 1998;58:339-344) on testing long-run purchasing power parity for Middle Eastern countries during the post-Bretton Woods period. Using multivariate nonlinear models, strong support is provided for highly nonlinear reversion of real exchange rates toward a stable equilibrium for each country examined. (C) 2000 Elsevier Science S.A. All rights reserved.
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页码：127 / 136
页数：10
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