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100   $a20020129d2006      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aTo Smooth or Not to Smooth?The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (39 p.)
225 1 $aIMF Working Papers
300   $a"November 2006."
311   $a1-4518-6517-1 
320   $aIncludes bibliographical references (p. 35-37).
327   $a""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""
330 3 $aThis paper estimates the effect of grants and workers' remittances on Jordan's long-term equilibrium real exchange rate. We estimate an equilibrium path for the Jordanian real exchange rate using the Johansen cointegration methodology over the period 1964 to 2005. Controlling for other fundamentals, we find that both grants and workers' remittances appreciate the equilibrium real exchange rate in a statistically and economically significant way. We also find that assessing deviations of the actual real exchange rate from the estimated equilibrium real exchange rate is nontrivial because different smoothing methodologies and the nonsmoothed estimates give very different results.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/257
606   $aForeign exchange rates$zJordan$xMathematical models
606   $aEmigrant remittances$zJordan$xMathematical models
606   $aGrants-in-aid$zJordan$xMathematical models
606   $aSmoothing (Numerical analysis)
606   $aExports and Imports$2imf
606   $aForeign Exchange$2imf
606   $aEmpirical Studies of Trade$2imf
606   $aRemittances$2imf
606   $aCurrency$2imf
606   $aForeign exchange$2imf
606   $aInternational economics$2imf
606   $aReal exchange rates$2imf
606   $aReal effective exchange rates$2imf
606   $aExchange rates$2imf
606   $aTerms of trade$2imf
606   $aOutward remittances$2imf
606   $aEconomic policy$2imf
606   $anternational cooperation$2imf
606   $aEmigrant remittances$2imf
607   $aJordan$2imf
615  0$aForeign exchange rates$xMathematical models.
615  0$aEmigrant remittances$xMathematical models.
615  0$aGrants-in-aid$xMathematical models.
615  0$aSmoothing (Numerical analysis)
615  7$aExports and Imports
615  7$aForeign Exchange
615  7$aEmpirical Studies of Trade
615  7$aRemittances
615  7$aCurrency
615  7$aForeign exchange
615  7$aInternational economics
615  7$aReal exchange rates
615  7$aReal effective exchange rates
615  7$aExchange rates
615  7$aTerms of trade
615  7$aOutward remittances
615  7$aEconomic policy
615  7$anternational cooperation
615  7$aEmigrant remittances
712 02$aInternational Monetary Fund.$bMiddle East and Central Asia Dept.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788417503321
996   $aTo Smooth or Not to Smooth?The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan$93802311
997   $aUNINA