Real exchange-rates, co-integration and purchasing power parity - Irish experience in the EMS
Citation:
pp147-163Download Item:
Abstract:
Dickey-Fuller and Co-Integration techniques are used to test the hypothesis that co-movements in Irish nominal exchange rates and relative prices are consistent with the implications of Purchasing Power Parity. The data reject PPP between Ireland and the US. Results from Irish/UK and Irish/German data are less decisive against the possibility that linear combinations of the nominal exchange rate and corresponding relative prices are stationary series.
Author: Thom, R
Publisher:
Economic & Social StudiesType of material:
Journal articleCollections
Series/Report no:
Economic and Social ReviewVol.20, No. 2, January 1989