Mussa Redux and Conditional PPP
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Long half-lives of real exchange rates are often used as evidence against monetary sticky price models. In this study we show how exchange rate regimes alter the long-run dynamics and half-life of the real exchange rate, and we recast the classic defense of such models by Mussa (1986) from an
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美国国家经济研究局创建时间:
2012-08-01



