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100   $a20020129d2006      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aExchange Rate Misalignment : $eAn Application of the Behavioral Equilibrium Exchange Rate (BEER) to Botswana /$fAtsushi Iimi
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (31 p.)
225 1 $aIMF Working Papers
300   $aAt head of title: African Department.
300   $a"June 2006."
311   $a1-4518-6400-0 
320   $aIncludes bibliographical references (p. 27-29).
327   $a""Contents""; ""I. INTRODUCTION""; ""II. THE LITERATURE""; ""III. RECENT DEVELOPMENTS IN EXCHANGE RATES IN BOTSWANA""; ""IV. ANALYTICAL FRAMEWORK""; ""V. ESTIMATION RESULTS""; ""VI. DISCUSSION""; ""VII. CONCLUSION""; ""EXPERIENCES OF OTHER COUNTRIES ADOPTING CRAWLING PEG ARRANGEMENTS""; ""REFERENCES""
330 3 $aBotswana's successive currency devaluations and recent move from a fixed to a crawling peg exchange rate regime raise the question of whether the exchange rate might be misaligned with economic fundamentals. This paper, applying the behavioral equilibrium exchange rate (BEER) approach, analyzes the behavior of the real exchange rate for the period 1985-2004. It finds that the pula was undervalued in the later 1980s but overvalued in recent years. Some policy lessons from experiences in other countries with crawling peg arrangements are therefore considered in the context of Botswana.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/140
606   $aForeign exchange rates$zBotswana
606   $aForeign exchange market$zBotswana
606   $aFinancial crises$zBotswana
606   $aForeign Exchange$2imf
606   $aMoney and Monetary Policy$2imf
606   $aMonetary Systems$2imf
606   $aStandards$2imf
606   $aRegimes$2imf
606   $aGovernment and the Monetary System$2imf
606   $aPayment Systems$2imf
606   $aCurrency$2imf
606   $aForeign exchange$2imf
606   $aMonetary economics$2imf
606   $aExchange rates$2imf
606   $aReal exchange rates$2imf
606   $aReal effective exchange rates$2imf
606   $aExchange rate arrangements$2imf
606   $aCurrencies$2imf
606   $aMoney$2imf
607   $aBotswana$2imf
615  0$aForeign exchange rates
615  0$aForeign exchange market
615  0$aFinancial crises
615  7$aForeign Exchange
615  7$aMoney and Monetary Policy
615  7$aMonetary Systems
615  7$aStandards
615  7$aRegimes
615  7$aGovernment and the Monetary System
615  7$aPayment Systems
615  7$aCurrency
615  7$aForeign exchange
615  7$aMonetary economics
615  7$aExchange rates
615  7$aReal exchange rates
615  7$aReal effective exchange rates
615  7$aExchange rate arrangements
615  7$aCurrencies
615  7$aMoney
700   $aIimi$b Atsushi$01533798
712 02$aInternational Monetary Fund.$bAfrican Dept.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788417803321
996   $aExchange Rate Misalignment$93802314
997   $aUNINA