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Equilibrium Exchange Rates [PDF]
IMF Working Papers, 2007 The paper describes six different methodologies that have been used to assess the equilibrium values of exchange rates and discusses their limitations. It applies several of the approaches to data for the United States as of 2006, illustrates that different approaches sometimes provide substantially different assessments, and asks which methodologies ...
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An equilibrium theory of nominal exchange rates [PDF]
European Economic Review, 2021 This paper proposes an equilibrium theory of nominal exchange rates, which offers a new perspective on various issues in open economy macroeconomics. The nominal exchange rate and portfolio choices are jointly determined in equilibrium, thus providing a new approach to overcoming the indeterminacy results in Kareken and Wallace (1981).
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Equilibrium Exchange Rates [PDF]
, 2010 List of Contributors. 1. Introduction: Equilibrium Exchange Rates R. MacDonald, J.L. Stein. 2. What Do We Really Know about Real Exchange Rates? R. MacDonald. 3. The Evolution of the Real Value of the US Dollar Relative to the G7 Currencies J.L. Stein. 4. A Macroeconomic Balance Framework for Estimating Equilibrium Exchange Rates H. Faruqee, et al.
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World-consistent equilibrium exchange rates [PDF]
Journal of the Japanese and International Economies, 2011 This paper proposes a systematic analysis of the problem of world consistency when deriving equilibrium exchange rates. World inconsistency can arise for two reasons. First, real effective misalignments of currencies out of the considered sample are implicitly assumed to be the mirror image of those of the currencies under review.
Bénassy-Quéré, Agnès +2 more
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Equilibrium and Disequilibrium Exchange Rates [PDF]
Journal of Contextual Economics – Schmollers Jahrbuch, 1982 The paper reviews theoretical developments in the field of exchange rate theory and assesses the empirical evidence. Since the empirical evidence does not lend support to the models that have been formulated, a number of reasons for that failure are suggested.
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Equilibrium Exchange Rate Hedging [PDF]
The Journal of Finance, 1990 ABSTRACTWe assume a world like the one that gives the capital asset pricing model, but with many goods and many countries. We assume that investors in a given country have homothetic utility functions with the same weights, and a currency that has a sure end‐of‐period value using a price index with those weights. Siegel's paradox (derived from Jensen's
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Equilibrium Exchange Rates and Supply‐Side Performance [PDF]
The Economic Journal, 2003 This paper develops a two-country, optimising, sticky price model of real exchange rate determination in the 'new open macroeconomics' tradition which allows several different forms of deviation from purchasing power parity (PPP), both along the adjustment path and in the steady state.
Gianluca Benigno, Christoph Thoenissen
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Current equilibrium exchange rate: methodology and estimations for Latin American countries
Brazilian Journal of Political Economy, 2022 This paper proposes a methodology for the estimation of the current account equilibrium exchange rate - the exchange rate that guarantees the intertemporal current account equilibrium for a country.
LUIZ CARLOS BRESSER-PEREIRA +4 more
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The Renminbi Equilibrium Exchange Rate: An Agnostic View [PDF]
, 2006 -
Antoine Bouveret +2 more
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Real effective exchange rate misalignment and currency crisis in Iran
Future Business Journal, 2023 This study aimed to examine real effective exchange rate (REER) misalignment in Iran and its relation to the currency crisis. The behavioral equilibrium exchange rate was employed to calculate the equilibrium exchange rate (EER), and misalignment was ...
Mohammad Hassanzadeh, Shahla Mousavi
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