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Bank of Canada RSS Feedsen2024-03-28T18:55:35+00:00Accounting for Real Exchange Rates Using Micro‐Data
https://www.bankofcanada.ca/2017/04/staff-working-paper-2017-12/
The classical dichotomy predicts that all of the time-series variance in the aggregate real exchange rate is accounted for by non-traded goods in the consumer price index (CPI) basket because traded goods obey the Law of One Price. In stark contrast, Engel (1999) claimed the opposite: that traded goods accounted for all of the variance.2017-04-20T13:02:33+00:00enAccounting for Real Exchange Rates Using Micro‐Data2017-04-20Exchange ratesInternational financial marketsTrade integrationStaff Working Paper 2017-12https://www.bankofcanada.ca/wp-content/uploads/2017/04/swp2017-12.pdfAccounting for Real Exchange Rates Using Micro‐DataMario J. CruciniAnthony LandryApril 2017FF3