Choosing base year in relative purchasing power parity theory to determine the long-run trend of exchange rate in Iran

Mehdi Darabi, Abdolnaser Hemmati, Teymur Rahmani and Mohammad Morovati
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Abdolnaser Hemmati: University of Tehran, Faculty of Economics
Teymur Rahmani: University of Tehran, Faculty of Economics
Mohammad Morovati: Khatam University, Department of Economics

Journal of Money and Economy, 2023, vol. 18, issue 1, 75-94

Abstract: The theory of relative purchasing power parity to determine the long-run trend of the exchange rate in Iran is quite sensitive to the base year selection. So, by changing the base year, trends with a level difference of several hundred percent are obtained. It means that the long-run trend of the

Keywords: Exchange rate determination; Terms of trade; Oil price; Bound test. (search for similar items in EconPapers)
Date: 2023
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