Munich Personal RePEc Archive

The impact of the real exchange rate on non-oil exports. Is there an asymmetric adjustment towards the equilibrium?

Hasanov, Fakhri (2012): The impact of the real exchange rate on non-oil exports. Is there an asymmetric adjustment towards the equilibrium? Published in: The George Washington University, RPF Working Paper No. No. 2012-005 (May 2012): pp. 1-24.

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Abstract

This study investigates the impact of the real exchange rate on the non-oil exports of the Republic of Azerbaijan in the framework of cointegration and an asymmetric error correction. Threshold and Momentum Threshold Autoregressive methods are applied over the quarterly period 2000Q1-2010Q4. The main finding of the study is that there is a long-run relationship between the variables with symmetric rather than asymmetric adjustment towards the equilibrium level.

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