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Persistent link: https://www.econbiz.de/10011912794
Exchange rates are important macroeconomic prices and changes in these rates affect economic activity, prices, interest rates, and trade flows. Methodologies have been developed in empirical exchange rate misalignment studies to evaluate whether a real effective exchange is overvalued or...
Persistent link: https://www.econbiz.de/10013061873
Real exchange rate is an important macroeconomic price in the economy and affects economic activity, interest rates, domestic prices, trade and investments flows among other variables. Methodologies have been developed in empirical exchange rate misalignment studies to evaluate whether a real...
Persistent link: https://www.econbiz.de/10013045526
Economic performance increasingly relies on global economic environment due to the growing importance of international trade and financial links among countries. Literature on growth spillovers shows various gains obtained by this interaction. In this context, this work aims to analyze the...
Persistent link: https://www.econbiz.de/10012936156
This paper aims to estimate the equilibrium real exchange rate for the Brazilian economy. The equilibrium exchange rate is defined as the level of exchange that guarantees that the net foreign asset position is stable over time. An econometric model is estimated using cointegration techniques....
Persistent link: https://www.econbiz.de/10009314554
This paper aims to evaluate what are the main long run determinants of Chinese real exchange rate that have depreciated substantially compared to a basket of currencies. The Chinese government started a process of accumulating foreign reserve in growing speed measured in absolute or relative...
Persistent link: https://www.econbiz.de/10009633274
This paper aims to compare two different methodologies to estimate exchange rate misalignment. The first methodology consists in using multivariate time series techniques and a model with domestic variables. The second methodology consists in Pesaran’s Global Vector Error Correction Model with...
Persistent link: https://www.econbiz.de/10010127383
Persistent link: https://www.econbiz.de/10011446550
This paper aims to discuss a methodology to calculate the error bands for exchange rate misalignments estimative. The exchange misalignment is not directly observed and its precision depends on the coefficients that link fundamentals to real effective exchange rate. The precision of exchange...
Persistent link: https://www.econbiz.de/10010230629
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