Search Results

Showing results 1 to 10 of approximately 19.

(refine search)
Author:Becketti, Sean 

Working Paper
How real is the \\"real exchange rate?\\"
AUTHORS: Becketti, Sean; Hakkio, Craig S.
DATE: 1987

Working Paper
Exchange rates in the long run
If Purchasing Power Parity holds in the long run, then real exchange rates are mean stationary. To test this hypothesis, monthly data on bilateral real exchange rates between the United States and five countries extending back to the 1920s are calculated. The null hypothesis of mean stationarity is tested against a variety of nonstationary alternatives. Our results strongly favor mean stationarity over models that permit long-run trends in real exchange rates. The data also favor stationarity over a unit root process with no drift. We show that the realized path of the real exchange rate lies predominantly within the prediction interval for a stationary AR(1) model, a result that is more consistent with stationarity than with a unit root. We develop simple statistics that make this intuitive reasoning more precise. Finally, the data contain no reliable evidence of discrete shifts in the mean of the real exchange rate. Thus, PPP appears to provide a reasonable characterization of the long-run behavior of national price levels and exchange rates.
AUTHORS: Joines, Douglas H.; Becketti, Sean; Hakkio, Craig S.
DATE: 1995

Working Paper
Reduced form evidence on the substitutability between bank and nonbank loans
AUTHORS: Becketti, Sean; Morris, Charles S.
DATE: 1993

Working Paper
Limited countercyclical policies: an exploratory study
AUTHORS: Becketti, Sean; Haltiwanger, John
DATE: 1986

Working Paper
The prepayment experience of FNMA mortgage-backed securities
AUTHORS: Becketti, Sean; Morris, Charles S.
DATE: 1990

Working Paper
Does money matter anymore? A comment on Friedman and Kuttner
AUTHORS: Morris, Charles S.; Becketti, Sean
DATE: 1992

Journal Article
Has financial market volatility increased?
AUTHORS: Sellon, Gordon H.; Becketti, Sean
DATE: 1989-06

Journal Article
Understanding loan sales
AUTHORS: Becketti, Sean
DATE: 1987-04

Journal Article
Are bank loans still special?
AUTHORS: Becketti, Sean; Morris, Charles S.
DATE: 1992-07