Long Run Trends and Exchange Rates in Latin America: Evidence of High Frequency Data
Posted: 27 May 2008
Abstract
Using daily data for the 1994-2005 period, this paper investigates the linkages and long-run trends among 14 Latin American countries. Specifically, we employ cointegration analysis to test for common stochastic trends across countries, among areas and over different periods of time. The evidence suggests a pattern of integration among Latin American countries and across some subregional areas (i.e. Mercosur). In particular, most countries have a long-run equilibrium relationship with the Brazilian real.
Keywords: exchange rates, Latin America, cointegration
JEL Classification: F31, F36
Suggested Citation: Suggested Citation
Ruiz, Isabel, Long Run Trends and Exchange Rates in Latin America: Evidence of High Frequency Data. Academy of Economics and Finance, Papers and Proceedings, Vol. 30, No. 1, 2006, Available at SSRN: https://ssrn.com/abstract=1138010
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