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The behavioural zloty/euro equilibrium exchange rate
Beza-Bojanowska, Joanna; MacDonald, Ronald - 2009
reflect the best possible assessment of the equilibrium exchange rate. In this paper we use the BEER and PEER approach to … premium proxy as well as to our approach for computing the total misalignment. We demonstrate that the BEER/PEER estimates of …Poland is obligated to adopt the euro after the fulfilment, inter alia, of the exchange rate criterion which requires …
Persistent link: https://www.econbiz.de/10010264576
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The Behavioural Zloty/Euro Equilibrium Exchange Rate
Beza-Bojanowska, Joanna - Narodowy Bank Polski - 2009
reflect the best possible assessment of the equilibrium exchange rate. In this paper we use the BEER and PEER approach to … premium proxy as well as to our approach for computing the total misalignment. We demonstrate that the BEER/PEER estimates of …Poland is obligated to adopt the euro after the fulfilment, inter alia, of the exchange rate criterion which requires …
Persistent link: https://www.econbiz.de/10009641437
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Models of Equilibrium Real Exchange Rates Revisited: A Selective Review of the Literature
Siregar, Reza; Rajan, Ramkishen - Centre for International Economic Studies, School of … - 2006
One of the more important concepts in open macroeconomics is the “equilibrium real exchange rate” (ERER). Real exchange rate misalignments are argued to have been the cause of loss of competitiveness and growth slowdowns and eventual currency crises (in the event of sustained...
Persistent link: https://www.econbiz.de/10008693047
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The Behavioural Zloty/Euro Equilibrium Exchange Rate
Beza-Bojanowska, Joanna; MacDonald, Ronald - CESifo - 2009
reflect the best possible assessment of the equilibrium exchange rate. In this paper we use the BEER and PEER approach to … premium proxy as well as to our approach for computing the total misalignment. We demonstrate that the BEER/PEER estimates of …Poland is obligated to adopt the euro after the fulfilment, inter alia, of the exchange rate criterion which requires …
Persistent link: https://www.econbiz.de/10005051513
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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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Australia’s Medium-run Exchange Rate: A Macroeconomic Balance Approach
Dvornak, Nikola; Kohler, Marion; Menzies, Gordon - Reserve Bank of Australia - 2003
We analyse the determinants of Australia’s exchange rate in terms of the approach introduced by Williamson (1983), based on the simultaneous attainment of internal and external balance. Internal balance implies that the economy is operating at its supply potential with no inflationary...
Persistent link: https://www.econbiz.de/10005423594
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Real exchange rates and fundamentals: robustness across alternative model specifications
Grisse, Christian; Adler, Konrad - Schweizerische Nationalbank (SNB) - 2014
This paper explores the robustness of behavioural equilibrium exchange rate (BEER) models, focusing on a panel …
Persistent link: https://www.econbiz.de/10011086483
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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 …
Persistent link: https://www.econbiz.de/10012606375
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Filtering the Beer : A Permanent and Transitory Decomposition
Clark, Peter B.; MacDonald, Ronald - 2021
Permanent Equilibrium Exchange Rate, or PEER, for the U.S. and Canadian dollars and the pound sterling. The BEER and the PEER … pound sterling the BEER and the PEER diverge sharply, with the latter following the actual exchange rate quite closely …In this paper we extend the BEER (Behavioral Equilibrium Exchange Rate) approach which identifies an estimated …
Persistent link: https://www.econbiz.de/10013317844