panel cointegration techniques to derive fully countryspecific measures of misalignment and measures based on panel …-of-sample performance prior to comparing it to two final panel specifications. Robustness of the results is supported by recently introduced … cross-sectionally augmented panel unit root tests by Pesaran (2007) and bootstrapped error correction-based panel …

panel cointegration techniques to derive fully countryspecific measures of misalignment and measures based on panel …-of-sample performance prior to comparing it to two final panel specifications. Robustness of the results is supported by recently introduced … cross-sectionally augmented panel unit root tests by Pesaran (2007) and bootstrapped error correction-based panel …

-area currencies. First, using dynamic panel techniques, we estimate an error correction model for the dollar real exchange rate versus …

We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions … dynamic panel data models. In particular, in our model the long-run relationship between effective exchange rates and domestic … as well as weighted foreign prices is a homogeneous function of a country's international investment position. We find …

-area currencies. First, using dynamic panel techniques, we estimate an error correction model for the dollar real exchange rate versus …

reversion and assume that relative prices are unchanged. Direct forecasting or panel data techniques are better than the random …

In this paper we revisit medium- to long-run exchange rate determination, focusing on the role of international … heterogeneous dynamic panel data models. In particular, in our model the long-run relationship between effective exchange rates and … domestic as well as weighted foreign prices is a homogeneous function of a country's international investment position. We find …