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Pitfalls in Measuring Exchange Rate Misalignment [PDF]

Open Economies Review, 2008
We evaluate whether the Renminbi (RMB) is misaligned, relying upon conventional statistical methods of inference. A framework built around the relationship between relative price and relative output levels is used. We find that, once sampling uncertainty and serial correlation are accounted for, there is little statistical evidence that the RMB is ...
Yin-Wong Cheung, Menzie D. Chinn, Eiji Fujii   +2 more
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Real Exchange Rate Behaviour and Exchange Rate Misalignments in Bangladesh

The Bangladesh Development Studies, 2001
The paper adopts a single equation approach to examine the real exchange rate behaviour and exchange rate misalignment in Bangladesh. The paper finds that real exchange rate and the macroeconomic fundamentals affecting real exchange rate form a cointegrating vector.
A. K. M. Atiqur Rahman, Syed Abul Basher
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Exchange rate misalignments and global imbalances

2020
The chapter presents an evaluation of the global imbalances using the notion of Fundamental Equilibrium Exchange Rate (FEER), defined as the level of the exchange rate which allows the economy to reach the internal and external equilibrium simultaneously.
Jacques Mazier, Jamel Saadaoui
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Financial Premium and Real Exchange Rate Misalignment

Journal of Economics, 2003
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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EXCHANGE RATE MISALIGNMENT AND AGRICULTURAL TRADE

2000
Using a sample consisting of bilateral trade flows across 10 developed countries between 1974 and 1995, this paper explores the effect of exchange rate misalignment on the growth of agricultural trade as compared to other sectors. Controlling for other factors likely to determine the growth in bilateral agricultural trade, the results show that long ...
Cho, Guedae, Sheldon, Ian M., McCorriston, Steve, Cho, Guedae, Sheldon, Ian M., McCorriston, Steve   +5 more
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Exchange rate misalignments in frequency domain

International Review of Economics & Finance, 2012
This research uses spectral methodology to study how the volatility of spot exchange rate misalignments changed as a result of (1) signing of the Plaza Accord and (2) introduction of the Euro. We study the deviations of Canadian Dollar/US Dollar, Japanese Yen/US Dollar and US Dollar/British Pound spot exchange rates from CPI- and TPI-based equilibrium ...
Axel Grossmann, Alexei G. Orlov
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The effects of exchange rate regimes on real exchange rate misalignment

International Review of Applied Economics, 2017
The literature on exchange rate regimes has paid little attention to the effects of exchange rate policies on real exchange rate misalignments.
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Exchange Rate Behavior in Ghana: Is there a Misalignment?

The Journal of Developing Areas, 2017
Exchange rate misalignment results in resource misallocation and could hamper overall economic growth. Persistent undervaluation leads to high levels of inflation which in turn creates macroeconomic instability while overvaluation leads to trade imbalances with consequential balance of payment problems.
Lordina Amoah, Meshach Jesse Aziakpono
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Exchange rate misalignments, growth, and institutions

Empirical Economics
In this paper, we revisit the relationship between economic growth and exchange rate misalignments, especially undervaluations. In particular, we ask which countries benefit from undervaluations at most, and whether the impact of undervaluations on growth depends on institutional quality as suggested in previous literature. First, we separate countries
Jaromír Baxa, Michal Paulus
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Exchange Rate Misalignment and International Law

American Journal of International Law, 2011
History is replete with examples where states have interfered with foreign exchange markets in order to influence exchange rates. The trade conflicts between the two world wars, for instance, were fought not only via the imposition of tariffs, but also via competitive devaluations. Since then, straightforward competitive devaluations have become a rare
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