Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/62821
Authors: 
Chortareas, Georgios E.
Kapetanios, George
Year of Publication: 
2004
Series/Report no.: 
Working Paper, Department of Economics, Queen Mary, University of London 522
Abstract: 
The lengthy half-lives of real exchange rates in the presence of high degree of exchange rate volatility has been considered as one of the most puzzling empirical regularities in international macroeconomics. This paper suggests that the measure of half-life used in the literature might be problematic and suggests an alternative measure. Empirical analysis suggests that use of the new measure may shed light on the PPP puzzle.
Subjects: 
PPP, Half life, Real exchange rates
JEL: 
C12
C15
C23
Document Type: 
Working Paper

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