Similar Search Results

Romania; Request for a Stand-By Arrangement

International Monetary Fund (IMF); International … - 2013

, Romania has made significant progress in reducing macroeconomic imbalances and rebuilding fiscal and financial buffers …. However, Romania remains vulnerable to external shocks, in particular uncertainties in the euro area as well as global … volatility in capital flows to emerging markets. The new SBA would provide a valuable policy anchor and support Romaniaâ …

Persistent link: https://www.econbiz.de/10011245005

Monetary Policy in Hybrid Regimes: The Case of Kazakhstan

Epstein, Natan P.; Portillo, Rafael - International Monetary Fund (IMF) - 2014

inflation in the context of a managed exchange rate regime. Over the past two years, the central bank has taken steps to enhance …

Persistent link: https://www.econbiz.de/10011142107

Empirical Exchange Rate Models of the Nineties; Are Any Fit to Survive?

Cheung, Yin-Wong; Pascual, Antonio Garcia; Chinn, … - International Monetary Fund (IMF) - 2004

We reassess exchange rate prediction using a wider set of models that have been proposed in the last decade. The performance of these models is compared against two reference specifications-purchasing power parity and the sticky-price monetary model. The models are estimated in first-difference...

Persistent link: https://www.econbiz.de/10005263978

How Robust Are Estimates of Equilibrium Real Exchange Rates; The Case of China

Leigh, Lamin; Dunaway, Steven Vincent; Li, Xiangming - International Monetary Fund (IMF) - 2006

Increased attention is being paid to assessments of the actual values of countries' real exchange rates relative to their "equilibrium" values as suggested by "fundamental" determining factors. This paper assesses the robustness of alternative approaches and models commonly used to derive...

Persistent link: https://www.econbiz.de/10005264021

FEER for the CFA Franc

Tsangarides, Charalambos G.; Abdih, Yasser - International Monetary Fund (IMF) - 2006

We apply the fundamentals equilibrium exchange rate (FEER) approach and the Johansen cointegration methodology to …

Persistent link: https://www.econbiz.de/10005264103

Estimation of the Equilibrium Real Exchange Rate for Malawi

Mathisen, Johan - International Monetary Fund (IMF) - 2003

This paper computes Malawi's equilibrium real exchange rate as a function of its fundamentals as derived from economic theory. It finds evidence in favor of the equilibrium approach to exchange rate determination, with several variables (particularly government consumption and real per capita...

Persistent link: https://www.econbiz.de/10005264148

Nonlinear Exchange Rate Models; A Selective Overview

Sarno, Lucio - International Monetary Fund (IMF) - 2003

This paper provides a selective overview of nonlinear exchange rate models recently proposed in the literature and assesses their contribution to understanding exchange rate behavior. Two key questions are examined. The first question is whether nonlinear autoregressive models of real exchange...

Persistent link: https://www.econbiz.de/10005825647

The Equilibrium Real Exchange Rate of the Malagasy Franc; Estimation and Assessment

Cady, John - International Monetary Fund (IMF) - 2003

Employing cointegration techniques, the long-run determinants of Madagascar's real exchange rate are examined from a …

Persistent link: https://www.econbiz.de/10005825649

An Unbiased Appraisal of Purchasing Power Parity

McDermott, C. John; Cashin, Paul - International Monetary Fund (IMF) - 2001

Univariate studies of the hypothesis of unit roots in real exchange rates have yielded consensus point estimates of the half-life of deviations from purchasing power parity of between three to five years. However, least squares-based estimates of half-lives are biased downward. Accordingly, we...

Persistent link: https://www.econbiz.de/10005825679

A Fair Exchange? Theory and Practice of Calculating Equilibrium Exchange Rates

Lee, Jaewoo; Faruqee, Hamid; Bayoumi, Tamim - International Monetary Fund (IMF) - 2005

We develop a theory-based model of equilibrium exchange rates incorporating factors that have been found to matter empirically. The model provides insights into how variables should be measured and what are appropriate cross-country restrictions. We estimate this model using a panel of 12...

Persistent link: https://www.econbiz.de/10005826165

1
2
3
4
5
6
7
8
9
10
Next
Last