Consumption and real exchange rates in dynamic economies with non-traded goods

We examine the possibility that non-traded goods may account for several striking features of international macroeconomic data: large, persistent deviations from purchasing power parity, small correlations of aggregate consumption fluctuations across countries, and substantial international real int...

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Veröffentlicht in:	Journal of international economics 1993-11, Vol.35 (3), p.297-316
Hauptverfasser:	Backus, David K., Smith, Gregor W.
Format:	Artikel
Sprache:	eng
Schlagworte:	Consumption Economics Exchange rates Foreign exchange Foreign exchange rates Macroeconomics Studies Time series
Online-Zugang:	Volltext
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