Stochastic behaviour of the real exchange rate for Jordan: a re-examination

Nasip Bolatoglu, Funda Telatar () and Erdinc Telatar

Applied Economics Letters, 2009, vol. 16, issue 1, 81-85

Abstract: The purpose of this article is to re-examine the validity of the long-run purchasing power parity (PPP) hypothesis for Jordan. Using a Markov-switching model, we provide some evidence that the real exchange rate of Jordan is stationary during periods of low real exchange rate volatility and nonstationary during periods of high real exchange rate volatility.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:16:y:2009:i:1:p:81-85

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DOI: 10.1080/13504850701719504

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