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      On openness and real exchange rate volatility

      Holmes, Mark J.; Bano, Sayeeda
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      Holmes openess.pdf
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       economicsbulletin.vanderbilt.edu
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      Holmes, M. & Bano, S. (2008). On openness and real exchange rate volatility. Economics Bulletin, 6(14), 1-12.
      Permanent Research Commons link: https://hdl.handle.net/10289/1983
      Abstract
      We address the puzzle concerning the inverse relationship between openness and real exchange rate volatility. We argue that the relationship can be explained by increased openness facilitating purchasing power parity. Using New Zealand data, we show that increased openness prolongs real exchange regimes characterised by fast mean-reversion and low volatility.
      Date
      2008
      Type
      Journal Article
      Publisher
      Economics Bulletin
      Rights
      This article has been published in the journal: Economics Bulletin.
      Collections
      • Management Papers [1078]
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