For a better user experience please update your browser or use Chrome or Firefox browser.
Hilfsprogramme
Publication detail
HomeComparing alternative methodologies for real exchange rate assessment . economic papers 427, september 2010
Metadaten zur Veröffentlichung
This paper compares alternative methodologies for estimating real exchange rate misalignment for EU countries. It is shown that current account-based approaches (based on NFA stabilization and current account norms) and relative-price based approaches (BEER and PPP-based) deliver broadly consistent assessments, however sometimes differences are non-negligible. Moreover, the behaviour of the two relative price-based approaches does not appear to be as fully aligned as expected. Current account-based misalignment appears to be driven to a larger extent by shocks affecting domestic absorption and national savings and quite often becomes manifest before price-based misalignment. All misalignment measures, and especially the BEER, are significantly related with medium-term developments in real exchange rates (overvaluation implying a forthcoming reduction in the REER), while only current-account based misalignment is a significant predictor of forthcoming current account developments.
- Veröffentlicht am:
- Themen: Wirtschaftspolitik – Wirtschafts- und Währungsunion
- Thema: Bewertungsverfahren , Handelsbilanz , vereinheitlichter Kontenrahmen , Wirtschaftsanalyse , öffentliches Rechnungswesen
|
PDF
|
|||
| ISSN 1725-3187 | ISBN 978-92-79-14913-9 | DOI 10.2765/44608 | Katalognummer KC-AI-10-427-EN-N |
- Released on EU publications website:
Diese Veröffentlichung kann im weboptimierten (PDF) oder druckoptimierten Format (PDF/X) heruntergeladen werden. Weitere Informationen zum Druck Ihrer eigenen Kopie von EU-Veröffentlichungen finden Sie in unserem Abschnitt „Häufig gestellte Fragen“.
Dokumentanzeige
Note:
Die Veröffentlichung kann nicht im Dokumentbetrachter angezeigt werden. Web-Version öffnen
Abrufbar via: Download und Sprachen