LEADER 03554nam 2200637 450 001 9910463589003321 005 20170817212631.0 010 $a1-4623-9716-6 010 $a1-4527-0166-0 010 $a1-4518-7011-6 010 $a9786612841040 010 $a1-282-84104-1 035 $a(CKB)3170000000055058 035 $a(EBL)1607924 035 $a(SSID)ssj0000943982 035 $a(PQKBManifestationID)11612510 035 $a(PQKBTitleCode)TC0000943982 035 $a(PQKBWorkID)10978596 035 $a(PQKB)11453136 035 $a(OCoLC)762080664 035 $a(MiAaPQ)EBC1607924 035 $a(EXLCZ)993170000000055058 100 $a20140226h20082008 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aBivariate assessments of real exchange rates using PPP data /$fJuan Zalduendo ; authorized for distribution by G. Russell Kincaid 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (28 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/153 300 $aDescription based upon print version of record. 311 $a1-4519-1464-4 320 $aIncludes bibliographical references. 327 $aContents; 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 Results 327 $a3. 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; References 330 $aThis paper focuses on assessments of real exchange rates using PPP data and examines their limitations when these are based exclusively on bivariate estimations. It begins by presenting an analytical framework of the real exchange rate that shows that these estimations make many restrictive assumptions. In turn, the empirical evidence presented shows that the estimates are not robust to changes in sample, such as those that arise from differences in incomes per capita. The conclusion is that the bivariate assessment of real exchange rates do not control for the heterogeneity that exists across 410 0$aIMF Working Papers 606 $aForeign exchange rates$xEconometric models 606 $aPurchasing power parity$xEconometric models 608 $aElectronic books. 615 0$aForeign exchange rates$xEconometric models. 615 0$aPurchasing power parity$xEconometric models. 676 $a332.456 700 $aZalduendo$b Juan$0901875 701 $aKincaid$b G. Russell$0901876 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463589003321 996 $aBivariate assessments of real exchange rates using PPP data$92015871 997 $aUNINA