Are real Exchange rates mean reverting Evidence from a panel of OECD countries
Yazarlar (2)
Özgür Aslan İstanbul Üniversitesi, Türkiye
Doç. Dr. Hüseyin Levent KORAP Kastamonu Üniversitesi, Türkiye
| Makale Türü | Özgün Makale (SSCI, AHCI, SCI, SCI-Exp dergilerinde yayınlanan tam makale) | ||
| Dergi Adı | Applied Economics Letters (Q4) | ||
| Dergi Tarandığı Indeksler | SSCI | ||
| Makale Dili | İngilizce | Basım Tarihi | 01-2009 |
| Cilt / Sayı / Sayfa | 16 / 1 / 23–27 | DOI | – |
| Özet |
| In our article we employ some contemporaneous panel unit root tests (Maddala and Wu, ; Im et al., ) to examine whether the real exchange rates are mean reverting. Considering a panel of 26 OECD countries from 1987 to 2006 both using monthly and quarterly observations, we find that assuming a panel framework significantly increases the power of unit root tests. As a result, we find that the nonstationarity of the real exchange rate has strongly been rejected in favour of giving support to the purchasing power parity. |
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