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“Big Bang” Versus Gradualism in Economic Reforms: An Intertemporal Analysis with an Application to China »
Article
Source: IMF Staff Papers, Volume 50, No. 3
Volume: 50
Series: IMF Staff Papers
Author(s): Robert Flood
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 25 November 2003
ISBN: 9781589062030
Keywords: unit root, real exchange rate, confidence intervals, confidence interval, serial correlation
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 es...