The Meassurement of the Equilibrium Real Exchange Rate : A New Econometric Approximation

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To determine the deviation of the real exchange rate (RER) with respect to some equilibrium level is of great importance for economic policy. However, the measurement of the RER as well as the determination of its equilibrium level are controversial matters. In this work we present the two main appr...

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Autores principales: Carrera, Jorge Eduardo, Féliz, Mariano, Panigo, Demian Tupac
Formato: Objeto de conferencia
Lenguaje:Inglés
Publicado: 1999
Materias:
Economía
real exchange rate
Equilibrium Exchange Rate
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/111366
http://www.memoria.fahce.unlp.edu.ar/trab_eventos/ev.10585/ev.10585.pdf
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-111366
record_format dspace
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Economía
real exchange rate
Equilibrium Exchange Rate
spellingShingle Economía
real exchange rate
Equilibrium Exchange Rate
Carrera, Jorge Eduardo
Féliz, Mariano
Panigo, Demian Tupac
The Meassurement of the Equilibrium Real Exchange Rate : A New Econometric Approximation
topic_facet Economía
real exchange rate
Equilibrium Exchange Rate
description To determine the deviation of the real exchange rate (RER) with respect to some equilibrium level is of great importance for economic policy. However, the measurement of the RER as well as the determination of its equilibrium level are controversial matters. In this work we present the two main approaches in the literature of the Equilibrium Exchange Rate: the Purchasing Power Parity hypothesis and the theory of the "fundamentals". In this paper, we propose a VECM methodology for the determination of the equilibrium RER in the framework of the "fundamentals" approach. Then, we suggest a methodology (a "rolling" VECM estimation) to check the stability of the parameters that at the same time improves on the VECM estimation. Finally, we suggest proposals to improve the theory of "fundamentals" giving greater weight to the dis-equilibriums in the labor market.
format Objeto de conferencia
Objeto de conferencia
author Carrera, Jorge Eduardo
Féliz, Mariano
Panigo, Demian Tupac
author_facet Carrera, Jorge Eduardo
Féliz, Mariano
Panigo, Demian Tupac
author_sort Carrera, Jorge Eduardo
title The Meassurement of the Equilibrium Real Exchange Rate : A New Econometric Approximation
title_short The Meassurement of the Equilibrium Real Exchange Rate : A New Econometric Approximation
title_full The Meassurement of the Equilibrium Real Exchange Rate : A New Econometric Approximation
title_fullStr The Meassurement of the Equilibrium Real Exchange Rate : A New Econometric Approximation
title_full_unstemmed The Meassurement of the Equilibrium Real Exchange Rate : A New Econometric Approximation
title_sort meassurement of the equilibrium real exchange rate : a new econometric approximation
publishDate 1999
url http://sedici.unlp.edu.ar/handle/10915/111366
http://www.memoria.fahce.unlp.edu.ar/trab_eventos/ev.10585/ev.10585.pdf
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