The purpose of this paper is to evaluate the efficiency of the East German economy at the firm level using an unbalanced panel over the transition period 1994 to 1998. We adopt a translog stochastic frontier model to estimate technical efficiency in eastern and western Germany. The results...

In this paper we apply two different concepts (BEER and PEER) to calculate real equilibrium exchange rates for fiveEast and Central European EU accession countries. From the results bilateral nominal equilibrium exchange rates againstthe euro are obtained through an algebraic transformation....

Given that the value of China´s currency has been hot topic recently, this paper explores the equilibrium levels of China´s real and nominal exchange rates. Employing a Johansen cointegration framework, we focus on the behavioral equilibrium exchange rate (BEER) and permanent equilibrium...