REAL EXCHANGE-RATES AND RELATIVE PRICES - AN EMPIRICAL-INVESTIGATION

• 成果类型: Article
• 署名作者: ENGEL, C
• 署名单位: National Bureau of Economic Research
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/0304-3932(93)90034-D
• 发表日期: 1993
• 页码: 35-50
• 关键词: Real exchange rates; CONSUMER PRICES

摘要

This paper uncovers a striking empirical regularity: the consumer price of a good relative to a different good within a country tends to be much less variable than the price of that good relative to a similar good in another country. This fact seems to hold for all goods except very simple, homogeneous products. Models of real exchange rates are likely to have predictions regarding this relation, so this fact may provide a useful gauge for discriminating among models.