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Purchasing power parity yet again : evidence from spatially separated commodity markets

Michael, Panos - In: Journal of international money and finance 13 (1994) 6, pp. 637-657

Persistent link: https://www.econbiz.de/10001173884

Transactions costs and nonlinear adjustment in real exchange rates : an empirical investigation

Michael, Panos - In: Journal of political economy 105 (1997) 4, pp. 862-879

Persistent link: https://www.econbiz.de/10001225251

Exchange rates, transactions bands and Cassel's doctrine of PPP

Michael, Panos; Nobay, A. Robert; Peel, David - 1994

Persistent link: https://www.econbiz.de/10000925640

Exchange rates, transactions bands and Cassel's doctrine of ppp

Michael, Panos; Nobay, A. Robert; Peel, David - 1994

Persistent link: https://www.econbiz.de/10000907408

Transactions Costs and Nonlinear Adjustment in Real Exchange Rates : An Empirical Investigation

Michael, Panos; Nobay, A. Robert; Peel, David A. - 1998

Equilibrium models of real exchange rate determination in the presence of transactions costs imply a nonlinear adjustment process toward purchasing power parity (PPP). Conventional cointegration tests, which ignore the effect of transactions costs, may be biased against the long-run PPP...

Persistent link: https://www.econbiz.de/10014220616