Estimating Iceland's Real Equilibrium Exchange Rate

Given recent developments in Iceland, this paper evaluates its real exchange rate disequilibrium. It discusses three approaches to estimating the equilibrium values and suggests that the adjustment needed to bring the real exchange rate in line with fundamentals is in the range of 15-25 percent, although timing and manner of this adjustment is unclear.

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Year of publication:	2007-12-01
Authors:	Tchaidze, Robert
Institutions:	International Monetary Fund (IMF)
Subject:	Real effective exchange rates \| Trade \| current account \| exchange rate \| real exchange rate \| current account deficit \| external debt \| external borrowing \| central bank \| real effective exchange rate \| effective exchange rate \| nominal exchange rate \| budget balance \| current accounts \| current account balance \| real exchange rate disequilibrium \| exchange rates \| external indebtedness \| equilibrium exchange rate \| current account deficits \| effective exchange rates \| exchange rate depreciation \| exchange rate regime \| debtor country \| real exchange rate depreciation \| external liabilities \| domestic currency \| net debt

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Extent:	application/pdf
Series:	IMF Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series IMF Working Papers Number 07/276 1 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005826225