PPP Strikes Back: Aggregation and the Real Exchange Rate
收藏NBER2002-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w9372
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资源简介：
We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time series and panel methods substantially exaggerate the persistence of real exchange rates because of heterogeneity in the dynamics of disaggregated relative prices. When heterogeneity
提供机构：
美国国家经济研究局
创建时间：
2002-12-01
