A semi-reduced form equation for the Sterling's real effective exchange rate |
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| Authors: | Partha Sen |
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| Affiliation: | University of Michigan, Ann Arbor, MI 48109, USA;London School of Economics, London WC2A 2AE, UK |
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| Abstract: | This paper derives and estimates a semi-reduced form expression for the UK's real effective exchange rate. The expression was derived following Blanchard and Kahn. Non-linear least squares and non-linear instrumental variables were used in estimation. |
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