The role of commodity terms of trade in the determination of the real exchange rates of the Mediterranean countries

dc.contributor.author	Camarero, Mariam
dc.contributor.author	Cuestas, Juan Carlos
dc.contributor.author	Ordóñez, Javier
dc.date.accessioned	2010-12-15T19:51:57Z
dc.date.available	2010-12-15T19:51:57Z
dc.date.issued	2008
dc.identifier.issn	00121533
dc.identifier.uri	http://hdl.handle.net/10234/20315
dc.description.abstract	The aim of this paper is to investigate whether there exists a long run relationship between the real exchange rate and the commodity terms of trade in the so-called “Mediterranean” or MENA countries. These economies are good candidates for this type of formulation, as they can be considered commodity exporting countries. Using cointegration techniques, we find long run relationships linking the real exchange rate and a commodity-based measure of the terms of trade. Thus, commodity terms of trade are a potential explanation for the apparent non-stationarity of MENA countries real exchange rate previously found in the empirical literature
dc.format.extent	P. 188-205
dc.language.iso	eng
dc.publisher	Wiley-Blackwell
dc.relation.isPartOfSeries	Developing economies; vol. 46 núm. 2
dc.rights.uri	http://rightsstatements.org/vocab/CNE/1.0/	*
dc.subject	Real exchange rate
dc.subject	Terms of trade
dc.subject	Commodity prices
dc.subject.other	Economia
dc.title	The role of commodity terms of trade in the determination of the real exchange rates of the Mediterranean countries
dc.type	info:eu-repo/semantics/article
dc.rights.accessRights	info:eu-repo/semantics/openAccess