LEADER 05180oam 22010574 450 001 9910960623703321 005 20250426110108.0 010 $a9786612841040 010 $a9781462397167 010 $a1462397166 010 $a9781452701660 010 $a1452701660 010 $a9781451870114 010 $a1451870116 010 $a9781282841048 010 $a1282841041 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(IMF)WPIEE2008153 035 $a(IMF)WPIEA2008153 035 $aWPIEA2008153 035 $a(EXLCZ)993170000000055058 100 $a20020129d2008 uf 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 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (28 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/153 300 $aDescription based upon print version of record. 311 08$a9781451914641 311 08$a1451914644 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 3 $aThis paper focuses on assessments of real exchange rates using PPP data and examines their limitations when these are based exclusively on bivariate estimations. It begins by presenting an analytical framework of the real exchange rate that shows that these estimations make many restrictive assumptions. In turn, the empirical evidence presented shows that the estimates are not robust to changes in sample, such as those that arise from differences in incomes per capita. The conclusion is that the bivariate assessment of real exchange rates do not control for the heterogeneity that exists across countries, thus limiting their usefulness. This critique of bivariate estimations does not apply however to multivariate approaches such as utilized by CGER. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/153 606 $aForeign exchange rates$xEconometric models 606 $aPurchasing power parity$xEconometric models 606 $aAggregate Factor Income Distribution$2imf 606 $aCurrency$2imf 606 $aExchange rates$2imf 606 $aForeign Exchange$2imf 606 $aForeign exchange$2imf 606 $aIncome$2imf 606 $aMacroeconomics$2imf 606 $aNational Government Expenditures and Related Policies: Infrastructures$2imf 606 $aOther Public Investment and Capital Stock$2imf 606 $aPublic finance & taxation$2imf 606 $aPublic Finance$2imf 606 $aPublic investment and public-private partnerships (PPP)$2imf 606 $aPublic-private sector cooperation$2imf 606 $aPurchasing power parity$2imf 606 $aReal exchange rates$2imf 607 $aUnited States$2imf 615 0$aForeign exchange rates$xEconometric models. 615 0$aPurchasing power parity$xEconometric models. 615 7$aAggregate Factor Income Distribution 615 7$aCurrency 615 7$aExchange rates 615 7$aForeign Exchange 615 7$aForeign exchange 615 7$aIncome 615 7$aMacroeconomics 615 7$aNational Government Expenditures and Related Policies: Infrastructures 615 7$aOther Public Investment and Capital Stock 615 7$aPublic finance & taxation 615 7$aPublic Finance 615 7$aPublic investment and public-private partnerships (PPP) 615 7$aPublic-private sector cooperation 615 7$aPurchasing power parity 615 7$aReal exchange rates 676 $a332.456 700 $aZalduendo$b Juan$01812964 801 0$bDcWaIMF 906 $aBOOK 912 $a9910960623703321 996 $aBivariate Assessments of Real Exchange Rates Using PPP Data$94372503 997 $aUNINA