文章基本信息

标题：On openness and real exchange rate volatility
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作者：Mark J. Holmes ; Sayeeda Bano
期刊名称：Economics Bulletin
电子版ISSN：1545-2921
出版年度：2008
卷号：6
出版社：Economics Bulletin
摘要：We address the puzzle concerning the inverse relationship between openness and real exchange rate volatility. We argue that the relationship can be explained by increased openness facilitating purchasing power parity. Using New Zealand data, we show that increased openness prolongs real exchange regimes characterised by fast mean-reversion and low volatility.