This paper examines the extent of misalignment of the real effective exchange rate (REER) of South African rand. With …, external openness, capital flows and government expenditure. The MSM correctly captures exchange rate misalignment as distinct …

currency carry trades can be understood as the compensation for misalignment and speculative risks, which explain over 96% of …

undervaluation or overvaluation of the euro, and calculate its misalignment. The problem however arises of how to assess the … reliability of such misalignment calculations. In our opinion, we must have a benchmark (namely a period in which we exactly know … from outside sources the misalignment itself), against which we can test the validity of the model underlying our …

RER misalignment under different exchange rate policies considered, model results indicated that the naira was overvalued …

This paper examines the impact of real effective exchange rate misalignment on economic growth in Nigeria using an … exchange rate regime is characterized by a relatively lower real exchange rate misalignment over time compared with the fixed … exchange rate regime. The GMM estimate reveals that real exchange rate misalignment has negative but significant impact on …