Add to ORKGWe study the nonlinear dynamics of the real exchange rate towards its behavioral equilibrium value (BEER) using a Panel Smooth Transition Regression model framework.We show that the real exchange rate convergence process in the long run is characterized by nonlinearities for emerging economies, whereas industrialized countries exhibit a linear pattern. Moreover, there exists an asymmetric behavior of the real exchange rate when facing an over- or an undervaluation of the domestic currency. Finally, our results suggest that the real exchange rate is unable to unwind alone global imbalances.Equilibrium exchange rate;BEER model;Panel smooth transition regression;Panel vector error correction model
We evaluate the growth effects of real effective exchange rate misalignments for the G20 coun-tries ...
We examine the behavior of the real exchange rates of nine transition economies during the 1990s. We...
We examine the behavior of the real exchange rates of nine transition economies during the 1990s. We...
We study the nonlinear dynamics of the real exchange rate towards its behavioral equilibrium value (...
This paper examines whether deviations from PPP are stationary in the presence of nonlinearity, and ...
Abstract The purchasing power parity puzzle, exchange rate disconnection to macroeconomic fundamenta...
Based on a behavioral equilibrium exchange rate model, this paper examines the determinants of the r...
The aim of this article is to investigate the link between currency misalignments and economic growt...
International audienceRecent studies on general equilibrium models with transaction costs show that ...
We study whether the nonlinear behavior of the real exchange rate can help us account for the lack o...
We evaluate the growth effects of real effective exchange rate misalignments for the G20 countries o...
Based on an behavioral equilibrium exchange rate model, this paper examines the determinants of the ...
Slow adjustment of real exchange rate towards its long run equilibrium in linear models has long puz...
We test the hypothesis of nonlinear adjustment towards the purchasing power parity as suggested by D...
Recent research has increasingly suggested that exchange rates may be characterized by non-linear be...
We evaluate the growth effects of real effective exchange rate misalignments for the G20 coun-tries ...
We examine the behavior of the real exchange rates of nine transition economies during the 1990s. We...
We examine the behavior of the real exchange rates of nine transition economies during the 1990s. We...
We study the nonlinear dynamics of the real exchange rate towards its behavioral equilibrium value (...
This paper examines whether deviations from PPP are stationary in the presence of nonlinearity, and ...
Abstract The purchasing power parity puzzle, exchange rate disconnection to macroeconomic fundamenta...
Based on a behavioral equilibrium exchange rate model, this paper examines the determinants of the r...
The aim of this article is to investigate the link between currency misalignments and economic growt...
International audienceRecent studies on general equilibrium models with transaction costs show that ...
We study whether the nonlinear behavior of the real exchange rate can help us account for the lack o...
We evaluate the growth effects of real effective exchange rate misalignments for the G20 countries o...
Based on an behavioral equilibrium exchange rate model, this paper examines the determinants of the ...
Slow adjustment of real exchange rate towards its long run equilibrium in linear models has long puz...
We test the hypothesis of nonlinear adjustment towards the purchasing power parity as suggested by D...
Recent research has increasingly suggested that exchange rates may be characterized by non-linear be...
We evaluate the growth effects of real effective exchange rate misalignments for the G20 coun-tries ...
We examine the behavior of the real exchange rates of nine transition economies during the 1990s. We...
We examine the behavior of the real exchange rates of nine transition economies during the 1990s. We...