This paper investigates the validity of purchasing power parity (PPP) for 25 OECD countries by using a panel unit … by the combination of the time-series and cross-sectional data and the subsequent power advantages of panel data unit …

Real Effective Exchange Rates in the EU over the period 1994-2012 by using heterogeneous, co-integrated panel frameworks in …

This study investigates the determinants of the trade balance in West African and Monetary Union (WAEMU) over the … Modified OLS (FMOLS) to deal with both endogeneity and cross-country heterogeneity. The results reveal that the trade balance … is negatively related to domestic and foreign income whereas real effective exchange rate depreciation improves the trade …

unobserved common factors using panel data from 1973 until 2007 for 19 OECD countries. Applying a principal component analysis we … in line with the suggestions of the monetary model. -- Monetary exchange rate model ; common factors ; panel data …

Equilibrium real exchange rate and corresponding misalignment estimates differ tremendously depending on the panel … cross-section (space) variation in the panel. The study shows that conventional panel estimation methods (pooled OLS, fixed … literature to show that the distortion is generally very large. This suggests the use of the CRE model for the panel estimation …

We look at a panel of Latin American countries from 1970 and 2016 to enquire how exchange rate pass-through has changed … through, with a small influence of real shocks such as terms-of-trade changes; money growth is also associated to long …-run pass-through, while terms of trade shocks are more statistically significant. Results are consistent with the hypothesis …

This paper takes a panel cointegration approach to the estimation of short- and long-run exchange rate pass … establish. Resorting to novel tests for panel cointegration, we find support for the equilibrium relationship hypothesis …. Exchange rate pass-through elasticities, estimated by two different techniques for cointegrated panel regressions, give insight …

unobserved common factors using panel data from 1973 until 2007 for 19 OECD countries. Applying a principal component analysis we …

transformation of the results. Panel cointegration techniques are used to check the adequacy of the empirical model. The results …