Jimenez-Martin, Juan Angel Jimenez Martin; Fernández, … - Facultad de Ciencias Económicas y Empresariales, … - 2005
This paper estimates the dynamics of adjustment to long run purchasing power parity (PPP) using data for 18 mayor bilateral US dollar exchange rates, over the post-Bretton Woods period, in a non-linear framework. We use new unit root and cointegration tests that do not assume a specific...