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Portugal --- al-Burtughāl --- al-Jumhūrīyah al-Burtughālīyah --- Burtughāl --- Jumhūrī-i Purtughāl --- Jumhūrīyah al-Burtughālīyah --- Lusitania (Portugal) --- Portekiz --- Portekiz Cumhuriyeti --- Portogalia --- Portogallo --- Portugál Köztársaság --- Portugali --- Portugalia --- Portugalii︠a︡ --- Portugalská republika --- Portugalʹskai︠a︡ Respublika --- Portugalsko --- Portugiesische Republik --- Portuguese Republic --- Porutogaru --- Porutogaru Kyōwakoku --- P'orŭt'ugal --- P'orŭt'ugal Konghwaguk --- Purtughāl --- Putaoya --- Putaoya Gongheguo --- Repubblica Portoghese --- Republica Portugheză --- República Portuguesa --- Republika Portugalska --- République portugaise --- Sefarad --- Португальская Республика --- Португалия --- פורטוגל --- البرتغال --- الجمهورية البرتغالية --- برتغال --- جمهوري پرتغال --- جمهورية البرتغالية --- پرتغال --- ポルトガル --- ポルトガル共和国 --- 葡萄牙 --- 葡萄牙共和国 --- 포르투갈 --- 포르투갈공화국 --- History --- Foreign public opinion --- Congresses. --- Press coverage
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Long-run movements of real exchange rates are studied using a panel data set comprising 51 economies. The purchasing power parity hypothesis (PPP) is examined first using unit root tests. It is found that PPP does not hold for the full sample of countries, but it may hold for the advanced economies, as well as open and high-inflation economies. Using the recently developed mean group and pooled mean group estimators, the paper finds support for the Balassa-Samuelson hypothesis in both advanced and developing economies; and for the influence of shifts in the terms of trade.
Exports and Imports --- Foreign Exchange --- Inflation --- Empirical Studies of Trade --- Price Level --- Deflation --- Currency --- Foreign exchange --- International economics --- Macroeconomics --- Real exchange rates --- Purchasing power parity --- Exchange rates --- Terms of trade --- Nominal effective exchange rate --- International trade --- Prices --- Economic policy --- nternational cooperation --- Chile
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