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Oil Wealth and Real Exchange Rates: The FEER for Norway

Akram, Q. Farooq - 2004

equilibrium real exchange rate (FEER) approach. It is shown that the strength of the FEER depends on the share of imports that can … be financed by petroleum (based) revenues. Projections of the FEER over a long horizon suggest that the petroleum wealth … period. However, the FEER depreciates steadily over time with growth in imports relative to petroleum revenues and converges …

Persistent link: https://www.econbiz.de/10012143630

Empirical estimation of REER trend for Ukraine

Vdovychenko, Artem - 2021

In this study, we apply BEER and FEER approaches to estimate the REER trend on Ukrainian data. By applying BEER we were … able to identify the long-run factors which explain the dynamics of the REER trend. FEER approach gives us information on …

Persistent link: https://www.econbiz.de/10012606375

Exchange rate misalignment: The case of the Chinese Renminbi

Cheung, Yin-Wong - 2012

. The results derived from the fundamental equilibrium exchange rate (FEER) approach and the Penn effect regression are used …

Persistent link: https://www.econbiz.de/10010281925

The equilibrium real exchange rate: pros and cons of different approaches with application to Latvia

Ajevskis, Viktors; Rimgailaite, Ramune; Rutkaste, Uldis; … - In: Baltic Journal of Economics 14 (2014) 1-2, pp. 101-123

This paper studies various approaches to the equilibrium real effective exchange rate estimation, including structural and direct estimation approaches. It shows their strengths and weaknesses with application to the case of Latvia. Despite the approaches differing considerably in terms of their...

Persistent link: https://www.econbiz.de/10011868489

A real differential view of equilibrium real exchange rates and misalignments

Hoffmann, Mathias; MacDonald, Ronald - 2000

This paper examines the interaction of G7 real exchange rates with real output and interest rate differentials. Using cointegration methods, we generally find a link between the real exchange rate and the real interest differential. This finding contrasts with the majority of the extant research...

Persistent link: https://www.econbiz.de/10010317405

Concepts to Calculate Equilibrium Exchange Rates: An Overview

MacDonald, Ronald - 2000

In this paper we present a critical overview of differnt methods of constructing an equilibrium exchange rate. The recent literature on purchasing power parity (PPP) indicates that on its own PPP is not a good vehicle for defining an equilibrium exchange rate. Rather, we argue that the latter...

Persistent link: https://www.econbiz.de/10010295691

A consistent set of multilateral productivity approach-based indicators of price competitiveness

Fischer, Christoph; Hossfeld, Oliver - 2014

We propose a novel, multilaterally consistent productivity approach-based indicator to assess the international price competitiveness of 57 industrialized and emerging economies. It is designed to be a useful assessment tool for monetary policy authorities and, thereby, differs from previously...

Persistent link: https://www.econbiz.de/10010369591

On the degree of homogeneity in dynamic heterogeneous panel data models

Offermanns, Christian J. - 2014

We propose a semi-parametric approach to heterogeneous dynamic panel data modelling. The method generalizes existing approaches to model cross-section homogeneity within such panels. It allows for partial influence of other cross-section units on estimated coefficients, differentiating between...

Persistent link: https://www.econbiz.de/10010420376

Bilateral equilibrium exchange rates of EU accession countries against the euro

Rahn, Jörg - 2003

We apply BEER and PEER approaches to calculate real equilibrium exchange rates for five EU accession countries in central and east Europe.Bilateral nominal equilibrium exchange rates against the euro are obtained through algebraic transformation of the results. Panel cointegration techniques are...

Persistent link: https://www.econbiz.de/10012148456

Towards the estimation of equilibrium exchange rates for CEE acceding countries: methodological issues and a panel cointegration perspective

Maeso-Fernandez, Francisco; Osbat, Chiara; Schnatz, Bernd - 2004

This paper provides a discussion of methodological issues relating to the estimation of the long-run relationship between exchange rates and fundamentals for Central and Eastern European acceding countries, focusing on the so-called behavioural equilibrium exchange rate (BEER) approach. Given...

Persistent link: https://www.econbiz.de/10011604399