The Purchasing Power Parity puzzle: a sudden nonlinear perspective

Marcus Lahtinen

Applied Financial Economics, 2006, vol. 16, issue 1-2, 119-125

Abstract: The aim of this study is to construct a simple nonlinear model for the US dollar-euro real exchange rate. The nonlinear model considered allows the adjustment towards long-run equilibrium to be sudden as well as smooth. It was found that the adjustment is sudden.

Date: 2006
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DOI: 10.1080/09603100500390000

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