Assessing equilibrium exchange rates in CEE acceding countries : can we have DEER with BEER without FEER? : A critical survey of the literature

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Title: Assessing equilibrium exchange rates in CEE acceding countries : can we have DEER with BEER without FEER? : A critical survey of the literature
Author: Égert, Balázs
Organization: Bank of Finland
Department / Unit: Institute for Economies in Transition (BOFIT)
Series: BOFIT Discussion Papers
Series number: 1/2004
Year of publication: 2004
Publication date: 2.2.2004
Pages: 78 s.
Keywords: valuuttakurssit; siirtymätaloudet; ostovoimapariteetti; mallit; menetelmät; hinnat; Bofit-kokoelma
Abstract: The ambition of this paper is to provide a thorough overview of equilibrium exchange rates in the acceding countries of Central and Eastern Europe.Therefore, theoretical models of equilibrium exchange rates are reviewed first and presented in a structured way.Subsequently, the existing body of the empirical literature aimed at investigating real exchange rate determination and possible misalignments is analyzed in a systematic manner.Finally, an attempt is made to sum up where we stand at the moment and what the major shortcomings of the approaches currently used in the literature are.
Rights: https://helda.helsinki.fi/bof/copyright


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