The real exchange rate and household consumption heterogeneity: Testing Kocherlakota and Pistaferri’s (2007) model
2021
Kollmann, Robert
Does household heterogeneity matter for exchange rate determination? This paper tests Kocherlakota and Pistaferri’s (2007) prominent heterogeneous agent model, in which the real exchange rate perfectly tracks relative domestic/foreign moments of cross-household consumption distributions. The evidence presented here indicates that the real exchange rate is disconnected from relative cross-household consumption moments.
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书目信息
出版者
Elsevier Inc.
其它主题
G1; F3; Household consumption heterogeneity; Real exchange rate; F4
语言
英语
类型
Journal Article; Text
2024-02-27
MODS