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Univariate studies of the hypothesis of unit roots in real exchange rates have yielded consensus point estimates of the half-life of deviations from purchasing power parity of between three to five years. However, least squares-based estimates of half-lives are biased downward. Accordingly, we...
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distinctive impact that tourism plays in the determination of the real exchange rate in tourism-driven economies. …
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cointegration approach. The results suggest debt servicing, inflation and private investment to be negatively associated. The study … coefficient of the error correction term confirms the long run causality between explanatory variables and private investment. The … pair-wise Granger causality concludes unidirectional causality from private investment to GDP growth, from private …
Persistent link: https://www.econbiz.de/10011259941
The paper analyses the cointegration relationships and the causal links between the exchange rate of the US Dollar, on …
Persistent link: https://www.econbiz.de/10005619301
implementation of standard cointegration methodology. Empirically, both variables are found nonstationary in levels with I(1 …
Persistent link: https://www.econbiz.de/10011096532
The primary goal of this study was to determine the impact of price discriminationon tourism demand. Four objectives … positiveeffect on tourism demand. The findings emphasised that the main reason forimplementing price discrimination is to increase … consumer and product, formed the basis of pricediscrimination. If demand did not exist, it would be impossible to apply …
Persistent link: https://www.econbiz.de/10009456056
This paper discusses key findings of the Third Review under the Stand-By Arrangement for Georgia. With monetary policy impaired by high dollarization, the authorities’ response to the downturn relies mostly on fiscal stimulus. The reduction of policy interest rates and ample liquidity...
Persistent link: https://www.econbiz.de/10011244567