Fiscal deficits and mean reversion in real exchange rates

The mean reversion of real exchange rates in G5 countries depends on both countries’ fiscal deficits/surplus in a nonlinear way. When the fiscal policy pushes the real exchange rate to be deviated further away from the equilibrium level, the mean reversion process is faster.

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Year of publication:	2013
Authors:	Gu, Jingping ; Li, Qi ; Yang, Jian
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 118.2013, 2, p. 300-303
Publisher:	Elsevier
Subject:	Fiscal deficits \| Real exchange rates \| Non-additive and nonlinear effects

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Type of publication:	Article
Classification:	C14 - Semiparametric and Nonparametric Methods ; F31 - Foreign Exchange
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010608078