CAPITAL-ENHANCED EQUILIBRIUM EXCHANGE RATE IN THE PRESENCE OF STRUCTURAL BREAKS: EVIDENCE FROM THE VISEGRAD COUNTRIES

被引：4

作者：

Koukouritakis, Minoas ^{[1
]}

机构：

[1] Univ Crete, Rethimnon, Greece

来源：

MANCHESTER SCHOOL | 2013年 / 81卷 / 01期

关键词：

COINTEGRATING RANK; TESTS; TREND; SHIFT;

D O I：

10.1111/j.1467-9957.2011.02258.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper I test the validity of the capital-enhanced equilibrium exchange rate (CHEER) approach for the four Visegrad new EU countries. Recent unit root and cointegration techniques with structural breaks in the data have been used. The CHEER approach is empirically validated only for the Czech Republic, while for Poland and Slovakia there is evidence of plausible economic relationships between the nominal exchange rate and each of the price and interest rate differentials. In contrast, such a relationship cannot be identified for Hungary.

引用

页码：58 / 79

页数：22

共 26 条

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