Frenkel, Michael; Koske, Isabell - In: Journal of Economics and Statistics (Jahrbuecher fuer … 232 (2012) 2, pp. 129-145
This paper derives equilibrium real exchange rates for the EU member countries that joined in 2004 and in 2007. Our analysis is based on the natural real exchange rate approach and uses data for the period 1980-2007. We employ a two-step estimation strategy to deal with the limited availability...