Advanced search
Publication Cover
Applied Economics Letters Volume 23, 2016 - Issue 14
Submit an article Journal homepage
116
Views
0
CrossRef citations to date
0
Altmetric
Original Articles

Lost in intervention. The Harrod–Balassa–Samuelson effect on the peseta/dollar real exchange rate (1870–1998)

José María SerranoDepartamento de Economía Aplicada, Facultad de Económicas, University of Zaragoza, Zaragoza, SpainView further author information
,
María Dolores GadeaDepartamento de Economía Aplicada, Facultad de Económicas, University of Zaragoza, Zaragoza, SpainView further author information
&
Marcela SabatéDepartamento de Economía Aplicada, Facultad de Económicas, University of Zaragoza, Zaragoza, SpainCorrespondence[email protected]
View further author information
Pages 1012-1017 | Published online: 24 Dec 2015

References

  • Anwar, S., and S. Zahid Ali. 2015. “Productivity Bias Hypothesis: Evidence from South Asia.” Applied Economics Letters 22 (17): 1389–1394.
  • Astorga, P. 2012. “Mean Reversion in Long-Horizon Real Exchange Rates: Evidence from Latin America.” Journal of International Money and Finance 31 (6): 1529–1550. doi:10.1016/j.jimonfin.2012.02.014.
  • Bahmani-Oskooee, M., and A. Gelan. 2006. “Black Market Exchange Rate and the Productivity Bias Hypothesis.” Economics Letters 91 (2): 243–249. doi:10.1016/j.econlet.2005.09.016.
  • Bahmani-Oskooee, M., and S. W. Hegerty. 2009. “Purchasing Power Parity in Less-Developed and Transition Economies: A Review Paper.” Journal of Economic Surveys 23 (4): 617–658. doi:10.1111/joes.2009.23.issue-4.
  • Bahmani-Oskooee, M., and A. B. M. Nasir. 2005. “Productivity Bias Hypothesis and the Purchasing Power Parity: A Review Article.” Journal of Economic Surveys 19 (4): 671–696. doi:10.1111/joes.2005.19.issue-4.
  • Broadberry, S. N., and B. Gupta. 2010. “The Historical Roots of India’s Service Led Development: A Sectoral Analysis of Anglo-Indian Productivity Differences, 1870-2000.” Explorations in Economic History 47 (3): 264–278. doi:10.1016/j.eeh.2009.09.004.
  • Broadberry, S. N., and M. O’Mahony. 2007. “Britain’s Twentieth Century Productivity Performance in International Perspective.” In Work and Pay in Twentieth Century Britain, edited by N. F. R. Crafts, I. Gazeley, and A. Newell. Oxford: Oxford University Press.
  • Chen, X., and R. MacDonald. 2015. “Measuring the Dollar-Euro Permanent Equilibrium Exchange Rate Using the Unobserved Components Model.” Journal of International Money and Finance 53: 20–35. doi:10.1016/j.jimonfin.2014.12.008.
  • Clark, P. K. 1987. “The Cyclical Component of U.S. Economic Activity.” The Quarterly Journal of Economics 102 (4): 797–814. doi:10.2307/1884282.
  • Drine, I., and C. Rault. 2008. “Purchasing Power Parity for Developing and Developed Countries. What Can We Learn from Non-Stationary Panel Data Models?” Journal of Economic Surveys 22 (4): 752–773. doi:10.1111/joes.2008.22.issue-4.
  • Eguidazu, F. 1978. Intervención Monetaria Y Control De Cambios En España, 1900-1977. Madrid: Información Comercial Española.
  • Lothian, J. R., and M. P. Taylor. 2008. “Real Exchange Rates Over the Past Two Centuries: How Important is the Harrod-Balassa-Samuelson Effect?” The Economic Journal 118 (532): 1742–1763. doi:10.1111/ecoj.2008.118.issue-532.
  • Martín-Aceña, P., and M. A. Pons. 2005. “Sistema Monetario Y Financiero.” In Estadísticas Históricas De España, edited by A. Carreras, and X. Tafunell, 645–706. Madrid: Fundación BBVA.
  • Michael, P., A. R. Nobay, and D. A. Peel. 1997. “Transactions Costs and Nonlinear Adjustment in Real Exchange Rates: An Empirical Investigation.” Journal of Political Economy 105 (4): 862–879. doi:10.1086/262096.
  • Mitchell, B. R. 2003. International Historical Statistics. America. New York, NY: Stockton Press.
  • Pavlidis, E. G., I. Paya, and D. A. Peel. 2011. “Real Exchange Rates and Time-Varying Trade Costs.” Journal of International Money and Finance 30 (6): 1157–1179. doi:10.1016/j.jimonfin.2011.06.004.
  • Prados, D. L. E. L. 2003. El Progreso Económico De España, 1850-2000. Madrid: Fundación BBVA.
  • Rogoff, K. 1996. “The Purchasing Power Parity Puzzle.” Journal of Economic Literature XXXIV (june): 647–668.
  • Sarno, L., and G. Valente. 2006. “Deviations from Purchasing Power Parity under Different Exchange Rate Regimes: Do They Revert And, if So, How?” Journal of Banking & Finance 30 (11): 3147–3169. doi:10.1016/j.jbankfin.2005.12.007.
  • Serrano, J. M., and M. J. Asensio. 1997. “El Ingenierismo Cambiario. La Peseta En Los Años Del Cambio Múltiple, 1948-1959.” Revista De Historia Económica XV (3): 545–573.
  • Taylor, M. P., D. A. Peel, and L. Sarno. 2001. “Non-Linear Mean-Reversion in Real Exchange Rates: Toward a Solution to the Purchasing Power Parity Puzzles?” International Economic Review 42 (4): 1015–1042. doi:10.1111/iere.2001.42.issue-4.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Order Reprints Request Corporate Permissions

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

Request Academic Permissions

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.

Supercharge Your Next Research Paper: Research and write your next paper with Jenni AI.

Related research

People also read lists articles that other readers of this article have read.

Recommended articles lists articles that we recommend and is powered by our AI driven recommendation engine.

Cited by lists all citing articles based on Crossref citations.
Articles with the Crossref icon will open in a new tab.