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Real exchange rate dynamics in the presence of non-traded goods and transaction costs
- Authors
- Lee, Inkoo; Shin, Jonghyup
- Issue Date
- Mar-2010
- Publisher
- ELSEVIER SCIENCE SA
- Keywords
- Real exchange rate; Persistence; Volatility; Non-traded goods; Transaction costs
- Citation
- ECONOMICS LETTERS, v.106, no.3, pp.216 - 218
- Journal Title
- ECONOMICS LETTERS
- Volume
- 106
- Number
- 3
- Start Page
- 216
- End Page
- 218
- ISSN
- 0165-1765
- Abstract
- This paper studies the role of non-traded goods and transaction costs in accounting for the puzzling behavior of real exchange rates. We show that introducing the transaction costs and non-traded goods in an otherwise standard competitive model dramatically improves its ability to rationalize observed real exchange rate dynamics. (c) 2009 Elsevier B.V. All rights reserved.
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Related Researcher
- Lee, In koo
- College of Economics and International Commerce (Department of Global Commerce)