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- W2154172073 abstract "Abstract This paper uses fractional integration models to describe the long‐run dependence of nominal exchange rates in Central and Eastern European countries (CEECs). The analysis is validated using nonparametric, semiparametric and parametric techniques. From comparing the results across the three approaches, it was clear that mean reversion takes places only for the euro exchange rates in Bulgaria, Estonia, and Slovenia. Other exchange rates based on the euro also display mean reversion with the parametric methods. For the US dollar rates, the unit‐root null hypothesis cannot be rejected in any single country, indicating that shocks affecting the exchange rates against the US dollar are of a permanent nature, while those directed against the euro are less persistent, and tend sometimes to disappear in the long run. Policy implications are derived." @default.
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- W2154172073 date "2011-01-18" @default.
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- W2154172073 title "Fractional Integration of Nominal Exchange Rates: Evidence from CEECs in the Light of EMU Enlargement" @default.
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- W2154172073 doi "https://doi.org/10.1111/j.1467-9396.2010.00933.x" @default.
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