Staff Paper Vol 50 No 3 (September 2003) (Spiea0032003)

by IMF Staff

This paper analyzes the issue of purchasing power parity using real effective exchange rate (REER) data for 20 industrial countries in the post-Bretton Woods period. The serial correlation-robust median-unbiased estimator yields a cross-country average of half-lives of deviations from parity of about eight years, with the REER of several countries displaying permanent deviations from parity. The paper analyzes integration of Africa into world trade...

• Format: Paperback
• Language: English
• ISBN: 1589062035
• ISBN13: 9781589062030
• Release Date: November 2003
• Publisher: International Monetary Fund
• Weight: 0.73 lbs.
• Dimensions: 0.5" x 6.0" x 9.0"