03554nam 2200637 450 991046358900332120170817212631.01-4623-9716-61-4527-0166-01-4518-7011-697866128410401-282-84104-1(CKB)3170000000055058(EBL)1607924(SSID)ssj0000943982(PQKBManifestationID)11612510(PQKBTitleCode)TC0000943982(PQKBWorkID)10978596(PQKB)11453136(OCoLC)762080664(MiAaPQ)EBC1607924(EXLCZ)99317000000005505820140226h20082008 uy 0engur|n|---|||||txtccrBivariate assessments of real exchange rates using PPP data /Juan Zalduendo ; authorized for distribution by G. Russell Kincaid[Washington, District of Columbia] :International Monetary Fund,2008.©20081 online resource (28 p.)IMF Working PapersIMF working paper ;WP/08/153Description based upon print version of record.1-4519-1464-4 Includes bibliographical references.Contents; I. Introduction; II. An Analytical Framework of the Real Exchange Rate; Box 1. The LOOP and the Purchasing Power Parity-Origins and Concepts; III. How are Bivariate Equilibrium Real Exchange Rates Estimated?; A. The International Comparison of Prices Dataset; B. Estimation Methodology and Underlying Assumptions; Figures; 1. Relative Price Levels and Income per Capita (1990 ICP Dataset); IV. Empirical Evidence; A. Cross-Section Evidence; 2. Balassa-Samuelson Relationship-Income and Regional Groups; Tables; 1. Estimation Results; 2. Panel Estimation Results3. Average Over-valuation (+) and Under-valuation (-) Results-2006B. Time-Series Evidence; 4. Closing Gap between Actual and Balassa-Samuelson Exchange Rate; C. Discussion; V. Conclusions; Appendix I. List of Countries Included in Econometric Estimations; Appendix II. The Low-Income Country Puzzle; Appendix Table 1. Estimation Results for Sub-samples of Low-Income Countries; ReferencesThis paper focuses on assessments of real exchange rates using PPP data and examines their limitations when these are based exclusively on bivariate estimations. It begins by presenting an analytical framework of the real exchange rate that shows that these estimations make many restrictive assumptions. In turn, the empirical evidence presented shows that the estimates are not robust to changes in sample, such as those that arise from differences in incomes per capita. The conclusion is that the bivariate assessment of real exchange rates do not control for the heterogeneity that exists acrossIMF Working PapersForeign exchange ratesEconometric modelsPurchasing power parityEconometric modelsElectronic books.Foreign exchange ratesEconometric models.Purchasing power parityEconometric models.332.456Zalduendo Juan901875Kincaid G. Russell901876MiAaPQMiAaPQMiAaPQBOOK9910463589003321Bivariate assessments of real exchange rates using PPP data2015871UNINA