English, Article, Journal or magazine article edition: How Puzzling is the PPP Puzzle? An Alternative Half-Life Measure of convergence to PPP Georgios Chortareas; George Kapetanios

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Bookmark: http://trove.nla.gov.au/version/34698
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • How Puzzling is the PPP Puzzle? An Alternative Half-Life Measure of convergence to PPP
Author
  • Georgios Chortareas
  • George Kapetanios
Physical Description
  • preprint
Notes
  • The lengthy half-lives of real exchange rates in the presence of high degree of exchange rate volatility has been considered as one of the most puzzling empirical regularities in international macroeconomics. This paper suggests that the measure of half-life used in the literature might be problematic and suggests an alternative measure. Empirical analysis suggests that use of the new measure may shed light on the PPP puzzle.
  • PPP, Half life, Real exchange rates
  • RePEc:qmw:qmwecw:wp522
  • RePEc:mmf:mmfc05:36
Language
  • English
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