01102cam0 22002773 450 SOB00637520241108150000.0888617943X20000101d1995 |||||ita|0103 baitaITAtti delle celebrazioni galileiane (1592-1992). Vol.I, L'anno galileiano 7 dicembre 1991 - 7 dicembre 1992TriesteEdizioni LINT1995258 p.24 cmUniversità degli Studi di PadovaGalileo a Padova 1529-1610001LAEC000167062001 *Università degli Studi di Padova : Galileo a Padova 1529-1610Galilei, GalileoAF000066330704160ITUNISOB20241108RICAUNISOBUNISOB50091053SOB006375M 102 Monografia moderna SBNM500000451-1SI91053ACQUISTOcarranoUNISOBUNISOB20130206120308.020130206120833.0carranoAtti delle celebrazioni galileiane (1592-1992). Vol.I, L'anno galileiano 7 dicembre 1991 - 7 dicembre 19924296838UNISOB04209oam 22009374 450 991097514940332120250426110732.09786613826114978146230037214623003759781452706764145270676X9781283513661128351366897814519087011451908709(CKB)3360000000443603(EBL)3014494(SSID)ssj0000940117(PQKBManifestationID)11483772(PQKBTitleCode)TC0000940117(PQKBWorkID)10948461(PQKB)10858459(OCoLC)694141178(MiAaPQ)EBC3014494(IMF)WPIEE2006074(IMF)WPIEA2006074WPIEA2006074(EXLCZ)99336000000044360320020129d2006 uf 0engur|n|---|||||txtccrDeterminants of Venezuela’s Equilibrium Real Exchange Rate /Juan Zalduendo1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (19 p.)IMF Working Papers"March 2006."9781451863345 1451863349 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. THE FRAMEWORK""; ""III. ADJUSTING FOR THE PARALLEL EXCHANGE MARKET""; ""IV. ASSESSMENT OF OVER- OR UNDER-VALUATION""; ""V. CONCLUSIONS""; ""References""The Venezuelan Bolivar is pegged to the U.S. dollar and supported by foreign exchange restrictions. To assess the appropriateness of the peg during the current period of high oil export earnings and the likely consequences of a liberalization, this paper attempts to disentangle the effects of oil prices from other factors underlying the equilibrium real exchange rate, and examines the role of foreign exchange controls by extending the application of a vector error correction (VEC) model to parallel market exchange rates. Several findings are worth noting. First, oil prices have indeed played a significant role in determining a time-varying equilibrium real exchange rate path. Second, oil prices are not the only important determinant of the real effective exchange rate: declining productivity is also a key factor. Third, appreciation pressures are rising. Finally, the speed of convergence of a VEC model using parallel rather than official rates is higher, suggesting that the government has been able to maintain sharp deviations between the official and equilibrium rates because of Venezuela's oil dependency and the concentration of oil income in government hands.IMF Working Papers; Working Paper ;No. 2006/074Foreign exchange ratesVenezuelaEconometric modelsForeign exchangeVenezuelaCurrencyimfEnergy: Demand and SupplyimfExchange ratesimfForeign ExchangeimfForeign exchangeimfMacroeconomicsimfMultiple currency practicesimfOil pricesimfPricesimfReal effective exchange ratesimfReal exchange ratesimfVenezuela, República Bolivariana deimfForeign exchange ratesEconometric models.Foreign exchangeCurrencyEnergy: Demand and SupplyExchange ratesForeign ExchangeForeign exchangeMacroeconomicsMultiple currency practicesOil pricesPricesReal effective exchange ratesReal exchange ratesZalduendo Juan1812964International Monetary Fund.Western Hemisphere Dept.DcWaIMFBOOK9910975149403321Determinants of Venezuela’s Equilibrium Real Exchange Rate4372878UNINA