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Real Exchange Rate Misalignments and Growth
Applied Economics, 2012Real exchange rate (RER) misalignment is now a standard concept in international macroeconomic theory and policy. However, there is neither a consensus indicator of misalignment, nor an agreed upon methodology for constructing such an indicator. This paper constructs an indicator of RER misalignment for a large sample of developed and developing ...
Bereau, Sophie +2 more
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Real Exchange Rate Misalignment in the CFA Zone
Journal of African Economies, 1997Using a method of calculating real exchange rate (RER) misalignment which explicitly incorporates terms of trade shocks and the distinction between tradable and non tradable goods, this paper estimates RER overvaluation in 12 countries of the CFA franc zone before and after the 1994 devaluation of the CFA franc.
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The misalignment of real effective exchange rate: evidence from Tunisia
2021Graduate Institute of International and Development Studies Working Paper ; no.
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The effect of monetary policy on real exchange rate misalignment
International Advances in Economic Research, 2001Abstract In this paper we investigate the relationship between monetary policy and the exchange rate. Our primary goal is to analyze the effect of tight monetary policy on reversing the currency under-valuation. We look at a sample of 19 developing countries for a period of twenty years.
Hossein S. Kazemi, Ayla Ogus
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2009 International Conference on Business Intelligence and Financial Engineering, 2009
Based on the equilibrium real exchange rate (ERER) put forward by Edwards (1989) and Johansen cointegration estimation methodology, this paper estimates the equilibrium real exchange rate of Chinese Yuan from 1980 to 2007 and calculates the real exchange rate misalignment.
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Based on the equilibrium real exchange rate (ERER) put forward by Edwards (1989) and Johansen cointegration estimation methodology, this paper estimates the equilibrium real exchange rate of Chinese Yuan from 1980 to 2007 and calculates the real exchange rate misalignment.
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Real Exchange Rate Misalignments and Economic Performance [PDF]
El presente trabajo se enmarca en un APT (Ross, 1976a) de la vertiente de Variables Macroeconómicas, que tiene la ventaja (en comparación con Análisis Factorial) de permitir la interpretación económica de los factores y los premios por riesgo factoriales.
Alvaro Aguirre, César Calderón
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Real Exchange Rate Misalignment in China: An Empirical Investigation
Journal of Comparative Economics, 2001Based on the theory of equilibrium real exchange rate, this paper estimates the behavioral equilibrium exchange rate and the resulting misalignment in China. Evidence shows chronic overvaluation in China's central planning period, but economic reforms have brought the real exchange rate closer to equilibrium.
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The effects of real exchange rate misalignment and real exchange volatility on exports [PDF]
This paper uses panel data cointegration techniques to study the impacts of real exchange rate misalignment and real exchange rate volatility on total exports for a panel of 42 developing countries from 1975 to 2004. The results show that both real exchange rate misalignment and real exchange rate volatility affect negatively exports.
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REAL EXCHANGE RATE MISALIGNMENT: THE CASE OF TURKEY
2016Bu çalışmanın amacı, Türkiye’nin uzun dönem reel döviz kurunu, Engle-Granger ve Johansen eşbütünleşme metodolojisinden yararlanarak, temel makroekonomik değişkenler aracılığıyla tahminlemeye çalışmaktır. Çalışmada, 2003:1 ve 2013:2 dönemini kapsayan üç aylık veriler kullanılmıştır.
TAŞ, Taner, UYSAL, Doğan
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Euro Area real effective exchange rate misalignments [PDF]
The resolution of the eurozone crisis requires, amongst other things, successful relative price adjustments between member states. We estimate here the scale of the adjustments needed using fundamental equilibrium exchange rates. We suggest two scenarios of adjustments, depending on the levels of inflation tolerated in surplus countries and at the Euro
Benjamin Carton, Karine Hervé
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