Republic, Hungary, Poland, Slovakia, and Slovenia) with real equilibrium exchange rates expressed in the US dollars. However …We use a dynamic heterogeneous panel model to estimate real equilibrium exchange rates for advanced transition …

This paper studies the Balassa-Samuelson (B-S) effect in the Czech Republic, Hungary, Poland, Slovakia and Slovenia. We … use time series and panel cointegration techniques and show that the B-S effect works reasonably well in the transition … could justify, especially in the cases of the Czech Republic and Slovakia. This can be partly explained by the trend …