8 pages matching ICP equilibrium in this book
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absolute PPP Actual analysis suggests AUD/NZD augment average Balassa-Samuelson effect Big Mac Index bilateral exchange rate capture the Balassa-Samuelson cent level cent undervalued coefficient cointegrating relationship cointegrating vector correctly signed countries currency data sample Datastream at quarterly denotes significance depreciation Equilibrium B-S adjusted equilibrium exchange rate estimate of equilibrium estimated equilibrium exchange rate equilibrium explanatory variables Figure fitted and residual floating exchange rate GNP/capita ICP equilibrium implied interest differentials interest rate labour productivity LPR longer sample MacDonald 1995 mean reversion measure of equilibrium nominal exchange rate null hypothesis OECD Over/under-valuation overvaluation panel data panel regression PPP-based estimate prod proxy purchasing power parity quarterly frequency real determinants real exchange rate reject the null relative interest rate residual values sample period section 3.2 simple PPP relationship sourced from Datastream terms of trade tradable sector unit root USD/NZD bilateral exchange USD/NZD exchange rate values from regression Zealand dollar Zealand exchange