international journal of finance and economics int j fin econ 6 95 114 2001 doi 10 1002 ijfe 151 market structure and the persistence of sectoral real exchange rates a ...
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...International journal of finance and economics int j fin econ doi ijfe market structure the persistence sectoral real exchange rates a b yin wongcheung menziechinn eijifujii department uniersity california santa cruz ca usa otaru commerce japan abstract weexamine relationship between us dollar based for oecd countries our empirical results on disaggregated data suggest that differences in significantly determine at which deviations from purchasing power parity decay specifically industries with larger price cost margin are found to exhibit slower reversion their further as degree intra industry trade activity increases rate becomes more pronounced these findings an imperfectly competitive contributes well documented copyright john wiley sons ltd keywords imperfect competition jel code f l introduction last few years have witnessed remarkable transformation profession s views ppp contrast view prevailing there now appears be consensus long run holds recent evidence stationarity comes se...