Trends non linéaires et co-trending dans le taux de change réel effectif du dinar tunisien

Nonlinear trend and co-trending in the Tunisian real effective exchange rate

Jamal Bouoiyour (), Velayoudoum Marimoutou and Serge Rey

MPRA Paper from University Library of Munich, Germany

Abstract: We study the relationships between the real effective exchange rate (REER) of the Tunisian dinar and its determinants/fundamentals, i.e. the ratio of trade balance/GDP, the ratio of public consumption/GDP, the openness rate and the terms of trade. We find that in the most of cases, the variables are stationary around a nonlinear trend. So we highlight the presence of co-trending relationships between REER and the four fundamental. That confirms the presence of a common nonlinear trend.

Keywords: Nonlinear trend; cotrending; real effective exchange rate; Tunisian dinar (search for similar items in EconPapers)
JEL-codes: C12 C13 C14 F31 F32 (search for similar items in EconPapers)
Date: 2003-06
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