A PPP Model of Real Appreciation

Cunha, Luís Campos e; Machado, José António Ferreira

http://hdl.handle.net/10362/85982

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Autores

Cunha, Luís Campos e

Machado, José António Ferreira

Resumo(s)

This paper presents a model of the real exchange rate. In the vein of Balassa (1964) it is shown how PPP can be reconciled with permanent differences in costs of living across countries and across regions inside the same country. This is true for the relative version of PPP, as well as, for the absolute version. Policy recommendations are underlined. At last, an empirical test is suggested.

URI

http://hdl.handle.net/10362/85982

Citação

Cunha, Luís Campos e and Machado, José António Ferreira, A PPP Model of Real Appreciation (December, 1993). FEUNL Working Paper Series No. 210

Coleções

NSBE - Working Paper Series

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