Baharumshah, Ahmad Zubaidi; Liew, Venus Khim-Sen; Lau, Evan - EconWPA - 2003
Utilizing formal nonlinear unit root test (Sarno, The behavior of US public debt: a nonlinear perspective. Economics Letters 2001: 119 – 125), this study provides robust evidence of nonlinear mean reversion in the real exchange rates of 4 major ASEAN countries. We conclude that the bulk of the...
