| |
|
|
|
|
|
|
|
1. |
Record Nr. |
UNINA9910970782703321 |
|
|
Autore |
Oomes Nienke |
|
|
Titolo |
In Search of a Dramatic Equilibrium : : Was the Armenian Dram Overvalued? / / Nienke Oomes, Vahram Stepanyan, Gohar Minasyan, Ara Stepanyan |
|
|
|
|
|
|
|
Pubbl/distr/stampa |
|
|
Washington, D.C. : , : International Monetary Fund, , 2009 |
|
|
|
|
|
|
|
ISBN |
|
9786612842719 |
9781462352753 |
1462352758 |
9781452730905 |
1452730903 |
9781451871975 |
145187197X |
9781282842717 |
1282842714 |
|
|
|
|
|
|
|
|
Edizione |
[1st ed.] |
|
|
|
|
|
Descrizione fisica |
|
1 online resource (22 p.) |
|
|
|
|
|
|
Collana |
|
|
|
|
|
|
Altri autori (Persone) |
|
MinasyanGohar |
StepanyanAra |
StepanyanVahram |
|
|
|
|
|
|
|
|
Disciplina |
|
|
|
|
|
|
Soggetti |
|
Foreign exchange rates - Armenia |
Devaluation of currency - Armenia |
Currency |
Deflation |
Exchange rates |
Foreign Exchange |
Foreign exchange |
Industrial productivity |
Inflation |
Macroeconomics |
Macroeconomics: Production |
Price Level |
Production and Operations Management |
Production |
Productivity |
Purchasing power parity |
Real effective exchange rates |
Real exchange rates |
Armenia, Republic of |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lingua di pubblicazione |
|
|
|
|
|
|
Formato |
Materiale a stampa |
|
|
|
|
|
Livello bibliografico |
Monografia |
|
|
|
|
|
Note generali |
|
|
|
|
|
|
Nota di bibliografia |
|
Contains bibliographical references. |
|
|
|
|
|
|
Nota di contenuto |
|
Contents; I. Introduction; Figures; 1. Estimated Real Exchange Rate Misalignment; II. Purchasing Power Parity (PPP) Approach; 2. Armenian Price Level Relative to U.S. Price Level; 3. Relative Price Levels and Relative Incomes; 4. PPP Approach Equilibrium and Atual Real Exchanges; 5. PPP Approach: Real Exchange Rate Misalignment; III. Behavioral Equilibrium Real Exchange Rate (BEER) Approach; A. Productivity measures; B. Other equilibrium exchange rate determinants; C. Results; Tables; 1. BEER Approach: Augmented Dickey-Fuller Test Results; 2. BEER Approach: Estimated Cointegrating Vector |
IV. External Sustainability (ES) Approach6. BEER Approach: Equilibrium and Actual REER; 7. BEER Approach: Real Exchange Rate Misalignment; 8. ES Approach: Real Exchange Rate Misalignment; V. Conclusion; 9. Estimated Real Exchange Rate Misalignment; References |
|
|
|
|
|
|
|
|
Sommario/riassunto |
|
This papers estimates the equilibrium exchange rate for Armenia using three different approaches: the purchasing power parity (PPP) approach, the behavioral equilibrium exchange rate (BEER) approach, and the external sustainability (ES) approach. All three approaches suggest that the dram was overvalued by about 20–30 percent prior to the devaluation of the dram in March 2009. |
|
|
|
|
|
|
|
| |