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Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies

Mendoza, Enrique G. - International Monetary Fund (IMF) - 2006

This paper shows that the dominant view that the high variability of real exchange rates is due to movements in exchange rate-adjusted prices of tradable goods does not hold for Mexican data for periods with a managed exchange rate. The relative price of nontradables accounts for up to 70...

Persistent link: https://www.econbiz.de/10005264110

Exchange Rates in the New EU Accession Countries; What Have We Learned from the Forerunners?

Smídková, Katerina; Bulir, Ales - International Monetary Fund (IMF) - 2005

Estimation and simulation of sustainable real exchange rates in some of the new EU accession countries point to potential difficulties in sustaining the ERM2 regime if entered too soon and with weak policies. According to the estimates, the Czech, Hungarian, and Polish currencies were overvalued...

Persistent link: https://www.econbiz.de/10005599488

Sustainable Real Exchange Rates in the New Eu Member States; What Did the Great Recession Change?

Smídková, Katerina; Babecky, Jan; Bulir, Ales - International Monetary Fund (IMF) - 2010

volatile external environment, have profound impact on our estimates of real exchange rate misalignments and projections of … sustainable real exchange rates. We find that real misalignments in several countries with pegged exchange rates and excessive … external liabilities widened relative to earlier estimates. While countries with balanced net trade positions are expected to …

Persistent link: https://www.econbiz.de/10008671298