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The common-trend and transitory dynamics in real exchange rate fluctuations
Bergman, Michael U.; Cheung, Yin-Wong; Lai, Kon-sun - In: Applied economics 43 (2011) 1/3, pp. 1-18
Persistent link: https://www.econbiz.de/10009011326
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Dissecting the PPP puzzle : the unconventional roles of nominal exchange rate and price adjustment
Cheung, Yin-Wong; Lai, Kon-sun; Bergman, Michael U. - 2003
The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price adjustment, is shown to be the key engine governing the...
Persistent link: https://www.econbiz.de/10011507767
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Dissecting the PPP puzzle : the unconventional roles of nominal exchange rate and price adjustments
Cheung, Yin-Wong; Lai, Kon-sun; Bergman, Michael U. - In: Journal of international economics 64 (2004) 1, pp. 135-150
Persistent link: https://www.econbiz.de/10002214116
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Dissecting the PPP puzzle : the unconventional roles of nominal exchange rate and price adjustments
Cheung, Yin-Wong; Lai, Kon-sun; Bergman, Michael U. - 2003
The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price adjustment, is shown to be the key engine governing the...
Persistent link: https://www.econbiz.de/10001753613
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Dissecting the PPP Puzzle : The Unconventional Roles of Nominal Exchange Rate and Price Adjustments
Cheung, Yin-Wong; Lai, Kon S.; Bergman, U. Michael - 2021
The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price adjustment, is shown to be the key engine governing the...
Persistent link: https://www.econbiz.de/10013319983
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Productivity Shocks, Monetary Shocks, and the Short- and Long-Run Dynamics of Exchange Rates and Relative Prices
Bergman, U. Michael; Cheung, Yin-Wong; Lai, Kon S. - 2002
This study evaluates the individual roles of monetary and productivity shocks in real exchange rate fluctuations under the current float. Using a cointegration model of exchange rates and relative prices, the innovations are decomposed into transitory and common-trend parts. Both transitory and...
Persistent link: https://www.econbiz.de/10014122594
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Capital flight: China's experience
Cheung, Yin-Wong; Qian, Xingwang - 2010
We study the empirical determinants of China's capital flight. In addition to the covered interest differential, our … regression exercise shows that China's capital flight is quite well explained by its own history and covered interest … differentials. The other possible determinants offer relatively small additional explanatory power. It is also found that China …
Persistent link: https://www.econbiz.de/10003937044
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Capital flight : China’s experience
Cheung, Yin-Wong; Qian, Xingwang - 2010
Persistent link: https://www.econbiz.de/10003975261
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Capital flight : China's experience
Cheung, Yin-Wong; Qian, Xingwang - In: Review of development economics 14 (2010) 2, pp. 227-247
Persistent link: https://www.econbiz.de/10003975772
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Capital Flight : China’s Experience
Cheung, Yin-Wong - 2010
We study the empirical determinants of China's capital flight. In addition to the covered interest differential, our … regression exercise shows that China's capital flight is quite well explained by its own history and covered interest … differentials. The other possible determinants offer relatively small additional explanatory power. It is also found that China …
Persistent link: https://www.econbiz.de/10013141977