Estimating the equilibrium exchange rate of the Estonian kroon

The paper presents empirical estimations of the equilibrium exchange rate of the Estonian kroon. The behavioural equilibrium exchange rate (BEER) approach is used to analyse the dynamics of the real effective exchange rate in the time period from 1995 to 2002. The estimates range from a 15% undervaluation to a small overvaluation of the kroon in the beginning of the period and indicate a position close to equilibrium in 2002.

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Year of publication:	2005-10-10
Authors:	Hinnosaar, Marit ; Kaadu, Hannes ; Uusküla, Lenno
Institutions:	Eesti Pank
Subject:	equilibrium exchange rate \| BEER \| cointegration \| Estonia

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Extent:	application/pdf
Series:	Bank of Estonia Working Papers.
Type of publication:	Book / Working Paper
Notes:	published Number 2005-2 33 pages
Classification:	C22 - Time-Series Models ; F31 - Foreign Exchange
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005650116