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Equilibrium exchange rates in the transition: the tradable price-based real appreciation and estimation uncertainty
Égert, Balázs; Lommatzsch, Kirsten - 2004
traditional Balassa-Samuelson model.With this as a background, alternative cointegration methods are applied to time series (Engle …
Persistent link: https://www.econbiz.de/10012148471
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Equilibrium exchange rates in the transition: The tradable price-based real appreciation and estimation uncertainty
Égert, Balázs; Lommatzsch, Kirsten - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2004
traditional Balassa-Samuelson model. With this as a background, alternative cointegration methods are applied to time series …
Persistent link: https://www.econbiz.de/10005648593
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Equilibrium Exchange Rates in the Transition: The Tradable Price-Based Real Appreciation and Estimation Uncertainty
Égert, Balázs; Lommatzsch, Kirsten - William Davidson Institute, University of Michigan - 2004
traditional Balassa-Samuelson model. With this as a background, alternative cointegration methods are applied to time series …
Persistent link: https://www.econbiz.de/10005677707
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Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues
Égert, Balázs; Halpern, László; MacDonald, Ronald - 2005
In this paper we present an overview of a number of issues relating to the equilibrium exchange rates of transition … calculating equilibrium exchange rates and discuss how useful they are likely to be for the transition economies. Amongst our …
Persistent link: https://www.econbiz.de/10009477512
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Equilibrium Real Exchange Rates in Central Europe's Transition Economies: Knocking on Heaven's Door
Égert, Balázs - 2002
The purpose of this paper is to study the equilibrium real exchange rate (ERER) in 5 CEE transition economies, namely …. The empirical part of the paper consists in estimating a VAR-based 3-equation cointegration system. Long-term equilibrium … estimated cointegration relationship connecting the RER with relative prices and the current account. Results show that the gap …
Persistent link: https://www.econbiz.de/10009477472
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Equilibrium Exchange Rate in the Czech Republic: How Good is the Czech BEER?
Babetskii, Ian; Égert, Balázs - 2005
alternative cointegration techniques, we identify a period of an overvaluation in 1997 and in 1999, an increasing overvaluation …
Persistent link: https://www.econbiz.de/10009476677
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Nominal and Real Convergence in Estonia: The Balassa-Samuelson (dis)connection
Égert, Balázs - 2003
The objective of the paper is to analyse the nominal and real convergence process in Estonia drawing on the Balassa-Samuelson (B-S) framework. A 15-sectoral breakdown for GDP and a 5-digit level CPI data disaggregation with over 260 items is used for the period 1993:Q1 to 2002:Q1 to show that...
Persistent link: https://www.econbiz.de/10009477083
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The Equilibrium Real Exchange Rate of the Malagasy Franc; Estimation and Assessment
Cady, John - International Monetary Fund (IMF) - 2003
Employing cointegration techniques, the long-run determinants of Madagascar's real exchange rate are examined from a …
Persistent link: https://www.econbiz.de/10005825649
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A Fair Exchange? Theory and Practice of Calculating Equilibrium Exchange Rates
Lee, Jaewoo; Faruqee, Hamid; Bayoumi, Tamim - International Monetary Fund (IMF) - 2005
We develop a theory-based model of equilibrium exchange rates incorporating factors that have been found to matter empirically. The model provides insights into how variables should be measured and what are appropriate cross-country restrictions. We estimate this model using a panel of 12...
Persistent link: https://www.econbiz.de/10005826165
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Medium-Term Exchange Rate Forecasting; What Can We Expect?
Meredith, Guy - International Monetary Fund (IMF) - 2003
The medium-term predictability of exchange rate movements is examined using three models of fundamentals: purchasing power parity, the monetary model, and uncovered interest parity. While the first two approaches yield favorable in-sample results, these largely reflect finite-sample estimation...
Persistent link: https://www.econbiz.de/10005826261