Journal: Scandinavian Journal of Economics

Annika Alexius ()

Scandinavian Journal of Economics, 2001, vol. 103, issue 2, pages 317-31

Abstract: In an attempt to move beyond the purchasing power parity hypothesis, this paper addresses two issues. The first concerns the causes of movements in real exchange rates. In contrast to the typical result, supply shocks are found to dominate the long-run variance decompositions for each of the four Nordic countries under study. This suggests that productivity developments are the most important determinant of long-run movements in real exchange rates. A second topic is the relative importance of stationary and non-stationary components of real exchange rates. Also in contrast to previous findings, transitory shocks are more important than permanent shocks for three of the four countries. Copyright 2001 by The editors of the Scandinavian Journal of Economics.

Date: 2001

Downloads: (external link)
http://www.blackwell-synergy.com/servlet/useragent ... &year=2001&part=null link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:bla:scandj:v:103:y:2001:i:2:p:317-31

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0347-0520

Access Statistics for this article

Scandinavian Journal of Economics is edited by Jonas Agell, Nils Gottfries and Espen R. Moen

More articles in Scandinavian Journal of Economics from Blackwell Publishing
Series data maintained by Christopher F. Baum ().