Repository at Hanyang UniversityCOLLEGE OF ECONOMICS AND FINANCE[S](경제금융대학)ECONOMICS & FINANCE(경제금융학부)Articles
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dc.contributor.author남덕우-
dc.date.accessioned2018-04-15T08:21:32Z-
dc.date.available2018-04-15T08:21:32Z-
dc.date.issued2011-06-
dc.identifier.citationJournal of money, credit, and banking, 2011, 43(4), P.775-785en_US
dc.identifier.issn0022-2879-
dc.identifier.urihttps://onlinelibrary.wiley.com/doi/abs/10.1111/j.1538-4616.2011.00396.x-
dc.identifier.urihttp://hdl.handle.net/20.500.11754/66712-
dc.description.abstractThis paper investigates the roles of the nominal exchange rate and relative prices in restoring purchasing power parity (PPP) by estimating their dynamics with a bivariate threshold vector error correction model. Our empirical results suggest a threshold cointegrating relationship between the nominal exchange rate and relative prices. However, these two variables play different roles in restoring PPP. The nominal exchange rate adjusts to restore PPP only outside the threshold band. Within the band, PPP is restored mainly through adjustments in relative prices.en_US
dc.language.isoenen_US
dc.publisherBlackwell Publishing Ltden_US
dc.subjectF31en_US
dc.subjectF37en_US
dc.subjectpurchasing power parityen_US
dc.subjectnonlinear real exchange rate adjustmenten_US
dc.subjectthreshold cointegrationen_US
dc.subjectgeneralized impulse responseen_US
dc.titleThe Roles of Nominal Exchange Rate and Relative Price Adjustments in PPP Reversionen_US
dc.typeArticleen_US
dc.relation.no4-
dc.relation.volume43-
dc.identifier.doi10.1111/j.1538-4616.2011.00396.x-
dc.relation.page775-785-
dc.relation.journalJOURNAL OF MONEY CREDIT AND BANKING-
dc.contributor.googleauthorNAM, D.-
dc.relation.code2012205461-
dc.sector.campusS-
dc.sector.daehakCOLLEGE OF ECONOMICS AND FINANCE[S]-
dc.sector.departmentDIVISION OF ECONOMICS & FINANCE-
dc.identifier.piddeokwnam-
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