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Accounting for real exchange rates using micro-data
Crucini, Mario J.; Landry, Anthony - 2017
The classical dichotomy predicts that all of the time-series variance in the aggregate real exchange rate is accounted for by non-traded goods in the consumer price index (CPI) basket because traded goods obey the Law of One Price. In stark contrast, Engel (1999) claimed the opposite: that...
Persistent link: https://www.econbiz.de/10012014539
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Accounting for real exchange rates using micro-data
Crucini, Mario J.; Landry, Anthony - In: Journal of international money and finance 91 (2019), pp. 86-100
Persistent link: https://www.econbiz.de/10012134474
Cover Image
Accounting for real exchange rates using micro-data
Crucini, Mario J.; Landry, Anthony - 2017
The classical dichotomy predicts that all of the time-series variance in the aggregate real exchange rate is accounted for by non-traded goods in the consumer price index (CPI) basket because traded goods obey the Law of One Price. In stark contrast, Engel (1999) claimed the opposite: that...
Persistent link: https://www.econbiz.de/10011637380