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Transactions Costs and Nonlinear Adjustment in Real Exchange Rates: An Empirical Investigation.
Michael, Panos; Nobay, A Robert; Peel, David A - In: Journal of Political Economy 105 (1997) 4, pp. 862-79
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/10005833591
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The German hyperinflation and the demand for money revisited
Michael, Panos; Nobay, A. Robert; Peel, David - 1990
Persistent link: https://www.econbiz.de/10000811129
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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
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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
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The German hyperinflation and the demand for money : revisited
Michael, Panos - In: International economic review 35 (1994) 1, pp. 1-22
Persistent link: https://www.econbiz.de/10001160454
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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
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Exchange rate dynamics and monetary reforms : theory and evidence from Britain's return to gold
Michael, Panos; Nobay, A. Robert; Peel, David - 1995
Persistent link: https://www.econbiz.de/10000925641
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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
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Exchange rate dynamics and monetary reforms : theory and evidence from Britain's return to gold
Michael, Panos; Nobay, A. Robert; Peel, David - 1995
Persistent link: https://www.econbiz.de/10000907414
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Exchange rate dynamics and monetary reforms : theory and evidence from Britain's return to gold
Michael, Panos - In: Modern perspectives on the gold standard, (pp. 341-362). 1996
Persistent link: https://www.econbiz.de/10001298961