Oomes, Nienke; Stepanyan, Vahram; Minasyan, Gohar; … - International Monetary Fund (IMF) - 2009
This papers estimates the equilibrium exchange rate for Armenia using three different approaches: the purchasing power parity (PPP) approach, the behavioral equilibrium exchange rate (BEER) approach, and the external sustainability (ES) approach. All three approaches suggest that the dram was...