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Published in 2019 at "Journal of Monetary Economics"
DOI: 10.1016/j.jmoneco.2018.08.007
Abstract: In many open-economy models based on Dornbusch (1976), the speed of convergence of the real exchange rate is tied to the stickiness of prices. The “purchasing power parity puzzle” concerns the empirical fact that real…
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Keywords:
convergence;
rate;
exchange rate;
price stickiness ... See more keywords