The impact of the real exchange rate on non-oil exports. Is there an asymmetric adjustment towards the equilibrium?

Fakhri Hasanov (fakhri.hasanov@gmail.com)

No 2012-005, Working Papers from The George Washington University, Department of Economics, H. O. Stekler Research Program on Forecasting

Abstract: This study investigates the impact of the real exchange rate on the non-oil exports of the Republic of Azerbaijan in the framework of cointegration and an asymmetric error correction. Threshold and Momentum Threshold Autoregressive methods are applied over the quarterly period 2000Q1-2010Q4. The main finding of the study is that there is a long-run relationship between the variables with symmetric rather than asymmetric adjustment towards the equilibrium level.

Pages: 24 pages
Date: 2012-05
New Economics Papers: this item is included in nep-opm
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Working Paper: The impact of the real exchange rate on non-oil exports. Is there an asymmetric adjustment towards the equilibrium? (2012)
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