The Adjustment of Prices and the Adjustment of the Exchange Rate
收藏NBER2001-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w8550
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资源简介：
The purchasing power parity puzzle relates to the adjustment of real exchange rates. Real exchange rates are extremely volatile, suggesting that temporary shocks emanate from the monetary sector. But the half-life of real exchange rate deviations is extremely large -- 2.5 to 5 years. This half-life
提供机构：
美国国家经济研究局
创建时间：
2001-10-01
