04548oam 22010934 450 991097515490332120250426110835.0978661382519397814623528211462352820978145278040514527804049781283512749128351274297814519097081451909705(CKB)3360000000443511(EBL)3014323(SSID)ssj0000939948(PQKBManifestationID)11519255(PQKBTitleCode)TC0000939948(PQKBWorkID)10946339(PQKB)10095798(OCoLC)698585510(IMF)WPIEE2006257(MiAaPQ)EBC3014323(IMF)WPIEA2006257WPIEA2006257(EXLCZ)99336000000044351120020129d2006 uf 0engur|n|---|||||txtccrTo Smooth or Not to Smooth—The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan /Martin Petri, Tahsin Saadi Sedik1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (39 p.)IMF Working Papers"November 2006."9781451865172 1451865171 Includes bibliographical references (p. 35-37).""Contents""; ""I. INTRODUCTION""; ""II. DATA AND METHODOLOGY""; ""III. MODELING AND INTERPRETING THE EQUILIBRIUM REAL EXCHANGE RATE""; ""IV. ASSESSING THE EQUILIBRIUM REAL EXCHANGE RATE""; ""V. CONCLUSIONS""; ""Appendix: Methodological Problems with Smoothing""; ""REFERENCES""This paper estimates the effect of grants and workers' remittances on Jordan's long-term equilibrium real exchange rate. We estimate an equilibrium path for the Jordanian real exchange rate using the Johansen cointegration methodology over the period 1964 to 2005. Controlling for other fundamentals, we find that both grants and workers' remittances appreciate the equilibrium real exchange rate in a statistically and economically significant way. We also find that assessing deviations of the actual real exchange rate from the estimated equilibrium real exchange rate is nontrivial because different smoothing methodologies and the nonsmoothed estimates give very different results.IMF Working Papers; Working Paper ;No. 2006/257Foreign exchange ratesJordanMathematical modelsEmigrant remittancesJordanMathematical modelsGrants-in-aidJordanMathematical modelsSmoothing (Numerical analysis)CurrencyimfEconomic policyimfEmigrant remittancesimfEmpirical Studies of TradeimfExchange ratesimfExports and ImportsimfForeign ExchangeimfForeign exchangeimfInternational economicsimfNternational cooperationimfOutward remittancesimfReal effective exchange ratesimfReal exchange ratesimfRemittancesimfTerms of tradeimfJordanimfForeign exchange ratesMathematical models.Emigrant remittancesMathematical models.Grants-in-aidMathematical models.Smoothing (Numerical analysis)CurrencyEconomic policyEmigrant remittancesEmpirical Studies of TradeExchange ratesExports and ImportsForeign ExchangeForeign exchangeInternational economicsNternational cooperationOutward remittancesReal effective exchange ratesReal exchange ratesRemittancesTerms of tradePetri Martin1816510Saadi Sedik Tahsin1623481International Monetary Fund.Middle East and Central Asia Dept.DcWaIMFBOOK9910975154903321To Smooth or Not to Smooth—The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan4372642UNINA