Equilibrium Exchange Rates in Transition Economies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Equilibrium Exchange Rates in Transition Economies write by Lionel Halpern. This book was released on 1996-11-01. Equilibrium Exchange Rates in Transition Economies available in PDF, EPUB and Kindle. A stylized fact of the transition process is an early profound exchange rate depreciation followed by continuing real appreciation. Absent historical reference points, it is difficult to judge whether the real appreciation is threatening competitiveness. This paper interprets the stylized facts and offers estimates of the equilibrium real exchange rate based on an international comparison of dollar wages and on a study of the dynamics of real exchange rates in several transition economies. The results suggest that the process of real appreciation is a combination of a return to equilibrium following the early overshooting and equilibrium appreciation.
Equilibrium Exchange Rates in Transition Economies
Equilibrium Exchange Rates in Transition Economies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Equilibrium Exchange Rates in Transition Economies write by László Halpern. This book was released on 1996. Equilibrium Exchange Rates in Transition Economies available in PDF, EPUB and Kindle.
Balance of Payments, Exchange Rates, and Competitiveness in Transition Economies
Balance of Payments, Exchange Rates, and Competitiveness in Transition Economies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Balance of Payments, Exchange Rates, and Competitiveness in Transition Economies write by Mario I. Blejer. This book was released on 2007-08-23. Balance of Payments, Exchange Rates, and Competitiveness in Transition Economies available in PDF, EPUB and Kindle. Integrating transition economies into the global commercial and trade market system is a prolonged and risky process. This book is a collection of studies dealing with the different issues related to the liberalization of external relations in economies moving from a socialist to a market-based system The focus is on external sector developments, and the topics deal with balance of payments conditions, exchange rate policies and regimes, international competitiveness, international capital flows, trade, and other matters related to the integration of transition economies into the world economy. An understanding of the principles involved and of the experiences of both transition and advanced economies during this process is crucial to ensure its ultimate success. Written by internationally recognized scholars, the chapters cover these issues in a systematic manner. The first section treats current account developments, capital flows, and exchange rate policies in transition countries, the second section deals with specific issues related to international trade, and the final section consists of six specific country experiences. In this final section, a chapter dealing with the Russian Federation discusses the collapse of the ruble in August 1998.
Equilibrium Exchange Rates in the Transition
Equilibrium Exchange Rates in the Transition - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Equilibrium Exchange Rates in the Transition write by Balázs Égert. This book was released on 2004. Equilibrium Exchange Rates in the Transition available in PDF, EPUB and Kindle. This paper sets out to estimate equilibrium real exchange rates for the Czech Republic, Hungary, Poland, Slovakia and Slovenia. A theoretical model is developed that provides an explanation for the appreciation of the real exchange rate based on tradable prices in the acceding countries. Our model can be considered as a competing but also completing framework to the traditional Balassa-Samuelson model. With this as a background, alternative cointegration methods are applied to time series (Engle-Granger, DOLS, ARDL and Johansen) and to three small-size panels (pooled and fixed effect OLS, DOLS, PMGE and MGE), which leaves us with around 5,000 estimated regressions. This enables us to examine the uncertainty surrounding estimates of equilibrium real exchange rates and the size of the underlying real misalignments.
Equilibrium Exchange Rates
Equilibrium Exchange Rates - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Equilibrium Exchange Rates write by Ronald MacDonald. This book was released on 2012-12-06. Equilibrium Exchange Rates available in PDF, EPUB and Kindle. How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate? What are the determinants and dynamics of equilibrium real exchange rates? How can misalignments be measured, and what are their causes? What are the effects of specific policies upon the equilibrium exchange rate? The answers to these questions are important to academic theorists, policymakers, international bankers and investment fund managers. This volume encompasses all of the competing views of equilibrium exchange rate determination, from PPP, through other reduced form models, to the macroeconomic balance approach. This volume is essentially empirical: what do we know about exchange rates? The different econometric and theoretical approaches taken by the various authors in this volume lead to mutually consistent conclusions. This consistency gives us confidence that significant progress has been made in understanding what are the fundamental determinants of exchange rates and what are the forces operating to bring them back in line with the fundamentals.
