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dc.contributor.authorBjørnland, Hilde Christiane
dc.date.accessioned2011-11-26T18:22:42Z
dc.date.available2011-11-26T18:22:42Z
dc.date.issued2002
dc.identifier.issn1892-753x
dc.identifier.urihttp://hdl.handle.net/11250/180199
dc.description.abstractAbstract: Modelling the Norwegian exchange rate against a basket of currencies, we find a robust long-term link between the real exchange rate and real interest differential that is consistent with purchasing power parity (PPP) and uncovered interest parity (UIP). However, PPP alone is rejected. These findings are confirmed focusing on the Norwegian bilateral exchange rate with Germany and (possibly) Sweden, but rejected against the UK and the US. We argue that rejection of bilateral relationships may result from idiosyncratic shocks in the different countries that may be negligible when modelling against a basket of currencies. Keywords: Purchasing power parity, uncovered interest parity, cointegration VAR.no_NO
dc.language.isoengno_NO
dc.publisherStatistics Norway, Research Departmentno_NO
dc.relation.ispartofseriesDiscussion Papers;No. 326
dc.subjectPurchasing power parityno_NO
dc.subjectExchange rateno_NO
dc.subjectNorwayno_NO
dc.subjectCointegration VARno_NO
dc.subjectJEL classification: C32no_NO
dc.subjectJEL classification: F31no_NO
dc.titleFundamental determinants of the long run real exchange rate: The case of Norwayno_NO
dc.typeWorking paperno_NO
dc.subject.nsiVDP::Social science: 200::Economics: 210::Economics: 212no_NO
dc.source.pagenumber37 s.no_NO


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