4 pages matching initial price differential in this book
Results 1-3 of 4
What people are saying - Write a review
We haven't found any reviews in the usual places.
12 Tradable Sectors 91 country pairs annual decay rate cointegration convergence towards PPP costs and exchange country pair dummies cross-country price differentials deviations from PPP different from zero Dummies yes yes Economic EFTA countries Engel and Rogers Error of Regression European Monetary System evidence of mean exchange rate variability exchange rate volatility factors faster rate floating exchange rate Frankel free trade areas Froot and Rogoff initial price differential instrumental variable j's currency long time series Mac prices mean reversion monthly exchange rates NBER Working Papers non-EMS countries Non-Tradable Sectors null hypothesis Number of Observations OECD Data percent price stickiness purchasing power parity rate of convergence Regression 3 Regression regression results reject the null reversion towards PPP sample Sector Dummies yes sector-specific shipping costs slope parameters specification standard deviation Standard errors statistically significant subsample transportation costs units of i's variability of price yes Adjusted R-squared yes yes Country yes yes yes