panel cointegration techniques to derive fully countryspecific measures of misalignment and measures based on panel …-of-sample performance prior to comparing it to two final panel specifications. Robustness of the results is supported by recently introduced … cross-sectionally augmented panel unit root tests by Pesaran (2007) and bootstrapped error correction-based panel …

-area currencies. First, using dynamic panel techniques, we estimate an error correction model for the dollar real exchange rate versus …

-area currencies. First, using dynamic panel techniques, we estimate an error correction model for the dollar real exchange rate versus …

We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions … dynamic panel data models. In particular, in our model the long-run relationship between effective exchange rates and domestic … as well as weighted foreign prices is a homogeneous function of a country's international investment position. We find …

reversion and assume that relative prices are unchanged. Direct forecasting or panel data techniques are better than the random …

für international tätige Investoren unabdingbar. Allerdings ist die Erstellung von Wechsel- kursprognosen schwierig, da … einer naiven Random Walk Prognose. Auch die Verwendung des Terminkurses als Prognose für die zukünftige … dar, von der sie sich bei der Erstellung der Prognose nicht lösen können. Zum anderen erfolgt die Anpassung der Prognose …

apply a recently introduced panel stationary test, which accounts for sharp breaks and smooth shifts. The results indicate …