Quasi Purchasing Power Parity: Structural Change in the Mexican Peso/US Dollar Real Exchange Rate
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| Format: | Artículo científico |
| Language: | en |
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El Colegio de México, A.C.
2003
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| _version_ | 1876443077818712064 |
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| author | Antonio E. Noriega |
| author_facet | Antonio E. Noriega |
| contents | Quasi Purchasing Power Parity: Structural Change in the Mexican Peso/US Dollar Real Exchange Rate Antonio E. Noriega Lorena Medina Economía y Finanzas This paper analyzes whether the real exchange-rate of the Mexican peso/US dollar revert to a long-run equilibrium value, and whether this value is unique. We use a method for testing stationarity, that allows for an unknown number of structural breaks in the level of the series. Using a long span of annual data covering the period 1925-1994, our results provide evidence favoring long-run Quasi-Purchasing Power Parity. In particular, we find that the real peso/dollar exchange rate has fluctuated stationarily around a 70 year long-run level, perturbed by a series of events, both domestic and external, in or around 1981. 2003 artículo científico 0188-6916 https://www.redalyc.org/articulo.oa?id=59718203 en http://www.redalyc.org/revista.oa?id=597 Estudios Económicos application/pdf El Colegio de México, A.C. Estudios Económicos (México) Num.2 Vol.18 |
| format | Artículo científico |
| id | redalyc_59718203 |
| institution | Redalyc |
| language | en |
| publishDate | 2003 |
| publisher | El Colegio de México, A.C. |
| spellingShingle | Quasi Purchasing Power Parity: Structural Change in the Mexican Peso/US Dollar Real Exchange Rate Antonio E. Noriega Economía y Finanzas Quasi Purchasing Power Parity: Structural Change in the Mexican Peso/US Dollar Real Exchange Rate Antonio E. Noriega Lorena Medina Economía y Finanzas This paper analyzes whether the real exchange-rate of the Mexican peso/US dollar revert to a long-run equilibrium value, and whether this value is unique. We use a method for testing stationarity, that allows for an unknown number of structural breaks in the level of the series. Using a long span of annual data covering the period 1925-1994, our results provide evidence favoring long-run Quasi-Purchasing Power Parity. In particular, we find that the real peso/dollar exchange rate has fluctuated stationarily around a 70 year long-run level, perturbed by a series of events, both domestic and external, in or around 1981. 2003 artículo científico 0188-6916 https://www.redalyc.org/articulo.oa?id=59718203 en http://www.redalyc.org/revista.oa?id=597 Estudios Económicos application/pdf El Colegio de México, A.C. Estudios Económicos (México) Num.2 Vol.18 |
| title | Quasi Purchasing Power Parity: Structural Change in the Mexican Peso/US Dollar Real Exchange Rate |
| topic | Economía y Finanzas |
| url | https://www.redalyc.org/articulo.oa?id=59718203 |