| 000 -LEADER |
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| fixed length control field |
00984pab a2200169 454500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
180718b1999 xxu||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Bayoumi, Tamim |
| 245 ## - TITLE STATEMENT |
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| Title |
Deviations of exchange rates from purchasing power parity: a story featuring two monetary unions |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. |
|---|
| Date of publication, distribution, etc. |
1999 |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
p.89-102 |
| 362 ## - DATES OF PUBLICATION AND/OR SEQUENTIAL DESIGNATION |
|---|
| Dates of publication and/or sequential designation |
Mar |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc. |
We examine the mean-reverting properties of real exchange rates, by comparing the unit root properties of a group of international real exchange rates with two groups of intranational real exchange rates. Strikingly, we find that while the international real rates taken as a group appear mean reverting, the intranational rates are not. This is consistent with the view that while nominal shocks may be mean reverting over the medium term, underlying real factors do generate long-term trends in real exchange rates. - Reproduced |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Exchange rates |
| 700 ## - ADDED ENTRY--PERSONAL NAME |
|---|
| Personal name |
Macdonald, Ronald |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
IMF Staff Papers |
| 909 ## - |
|---|
| -- |
41933 |
