Béreau, Sophie; Villavicencio, Antonia López; Mignon, … - In: Economic Modelling 27 (2010) 1, pp. 404-416
We study the nonlinear dynamics of the real exchange rate towards its behavioral equilibrium value (BEER) using a Panel Smooth Transition Regression model framework. We show that the real exchange rate convergence process in the long-run is characterized by nonlinearities for emerging economies,...