Eijffinger, Sylvester C. W. (contributor); … - 2007
), growth of imports, and the initial level of the monetary policy interest rate
spread, do not have the expected signs.
23 We … and Ioannidou (2006). First, as an indicator of real exchange rate overvaluation, we include
the average growth rate of …. Fourth, we
include the deviation of the real per capita GDP growth in the previous calendar year from the average of
the five …