Fidora, Michael; Giordano, Claire; Schmitz, Martin - 2017
Building upon a Behavioural Equilibrium Exchange Rate (BEER) model, estimated at a quarterly frequency since 1999 on a … broad sample of 57 countries, this paper assesses whether both the size and the persistence of real effective exchange rate … institutions is found to reduce the persistence of real exchange rate misalignments, plausibly by removing real rigidities. …