Are shocks to real effective exchange rates permanent or transitory? evidence from Pacific Island countries

Narayan, Paresh Kumar and Prasad, Biman Chand 2008, Are shocks to real effective exchange rates permanent or transitory? evidence from Pacific Island countries, Applied economics, vol. 40, no. 8, pp. 1053-1060.

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Title Are shocks to real effective exchange rates permanent or transitory? evidence from Pacific Island countries
Author(s) Narayan, Paresh Kumar
Prasad, Biman Chand
Journal name Applied economics
Volume number 40
Issue number 8
Start page 1053
End page 1060
Publisher Routledge
Place of publication London, England
Publication date 2008-04
ISSN 0003-6846
1466-4283
Summary In this article, we consider the stability of the real effective exchange rates for four Pacific Island countries using the Lee and Strazicich (2003a, b) unit root test, which allows one to incorporate at most two structural breaks in the data series. Our main finding is that for Papua New Guinea and Samoa, exchange rates are stable, implying that shocks will have a transitory effect on real effective exchange rates, while for Fiji and the Solomon Islands we find exchange rates to be unstable, implying that shocks will have a permanent effect on real effective exchange rates.
Language eng
Field of Research 140305 Time-Series Analysis
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2008
Copyright notice ©2008, Taylor & Francis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30017252

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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