Estimating Egypt’s Equilibrium Real Exchange Rate
Title | Estimating Egypt’s Equilibrium Real Exchange Rate PDF eBook |
Author | Mr.Joannes Mongardini |
Publisher | International Monetary Fund |
Pages | 42 |
Release | 1998-01-01 |
Genre | Business & Economics |
ISBN | 1451842155 |
In light of the real appreciation of the Egyptian pound over the last six years and Egypt’s lackluster export growth, questions of external competitiveness and exchange rate policy have arisen. This paper sheds light on these issues by estimating empirically Egypt’s equilibrium real exchange rate, that is, the rate that is consistent with fundamentals. The results show that, while the real exchange rate was substantially overvalued before 1993, today it is only moderately above the equilibrium rate. Moreover, the analysis shows that the recent appreciation of the pound does not indicate a worsening misalignment.
Exchange Rate Misalignment in Egypt
Title | Exchange Rate Misalignment in Egypt PDF eBook |
Author | Nagwa Samir Riad |
Publisher | |
Pages | 508 |
Release | 2008 |
Genre | |
ISBN |
Estimation of the Equilibrium Real Exchange Rate for Malawi
Title | Estimation of the Equilibrium Real Exchange Rate for Malawi PDF eBook |
Author | Mr.Johan Mathisen |
Publisher | International Monetary Fund |
Pages | 26 |
Release | 2003-05-01 |
Genre | Business & Economics |
ISBN | 1451852789 |
This paper computes Malawi's equilibrium real exchange rate as a function of its fundamentals as derived from economic theory. It finds evidence in favor of the equilibrium approach to exchange rate determination, with several variables (particularly government consumption and real per capita growth) found to drive movements in the time-varying equilibrium real exchange rate. The results also indicate that following a shock there is a rapid reversion of the real exchange rate to its time-varying equilibrium, with a half-life of reversion of about 11 months.
Single-equation Estimation of the Equilibrium Real Exchange Rate
Title | Single-equation Estimation of the Equilibrium Real Exchange Rate PDF eBook |
Author | John Baffes |
Publisher | |
Pages | 64 |
Release | 1997 |
Genre | Equilibrium (Economics) |
ISBN |
ESTIMATING EPYPT'S EQUILIBRIUM REAL EXCHANGE RATE
Title | ESTIMATING EPYPT'S EQUILIBRIUM REAL EXCHANGE RATE PDF eBook |
Author | Joannes MONGARDINI |
Publisher | |
Pages | |
Release | 1998 |
Genre | |
ISBN |
The Equilibrium Real Exchange Rate in a Commodity Exporting Country
Title | The Equilibrium Real Exchange Rate in a Commodity Exporting Country PDF eBook |
Author | International Monetary Fund |
Publisher | International Monetary Fund |
Pages | 23 |
Release | 2003-05-01 |
Genre | Business & Economics |
ISBN | 1451851677 |
Questions about external competitiveness, exchange rate misalignment, and the appropriate exchange rate policy feature prominently in the Russian policy debate. This paper furthers the debate by estimating empirically Russia's equilibrium real exchange rate (ERER)-that is, the rate consistent with the long-run economic fundamentals-and sheds light on the extent to which exchange rate policy should be changed. The paper confirms that the ERER reflects both productivity and the terms of trade. It suggests that Russia should target a significant medium-term current account deterioration and a real appreciation perhaps exceeding 10 percent. However, this latter number remains very sensitive to the assumed long-run oil prices.
Single-equation Estimation of the Equilibrium Real Exchange Rate
Title | Single-equation Estimation of the Equilibrium Real Exchange Rate PDF eBook |
Author | Ohn Baffes |
Publisher | |
Pages | |
Release | 1999 |
Genre | |
ISBN |