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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
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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
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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
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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
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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
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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
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Methodological advances in the assessment of equilibrium exchange rates
Bussière, Matthieu; Ca' Zorzi, Michele; Chudik, Alexander - 2010
This paper reviews three different concepts of equilibrium exchange rates that are widely used in policy analysis and constitute the backbone of the IMF CGER assessment: the Macroeconomic Balance, the External Sustainability and the reduced form approaches. We raise a number of econometric...
Persistent link: https://www.econbiz.de/10011605197
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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/10011605751
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Exchange rate predictability and state-of-the-art models
Yeșin, Pınar - 2016
This paper empirically evaluates the predictive performance of the International Monetary Fund's (IMF) exchange rate assessments with respect to future exchange rate movements. The assessments of real trade-weighted exchange rates were conducted from 2006 to 2011, and were based on three...
Persistent link: https://www.econbiz.de/10011629987
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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