Mean-Reversion Versus Adjustment to PPP: The Two Regimes of Exchange Rate Dynamics Under the EMS, 1979-1998

M. Bessec

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: This paper examines jointly the empirical relevance of the mean-reversion and the PPP hypotheses in the exchange rate dynamics under the EMS.

Keywords: MONETARY SYSTEMS; EXCHANGE RATE (search for similar items in EconPapers)
JEL-codes: C32 F31 F33 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:fth:pariem:2000.102

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