Béreau, Sophie; Villavicencio, Antonia Lopez; Mignon, … - Centre d'études prospectives et d'informations … - 2008
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,...