In search of a dramatic equilibrium [[electronic resource] ] : was the Armenian Dram overvalued? / / prepared by Nienke Oomes, Gohar Minasyan and Ara Stepanyan
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| Autore: |
Oomes Nienke
|
| Titolo: |
In search of a dramatic equilibrium [[electronic resource] ] : was the Armenian Dram overvalued? / / prepared by Nienke Oomes, Gohar Minasyan and Ara Stepanyan
|
| Pubblicazione: | [Washington, D.C.], : International Monetary Fund, Middle East and Central Asia Department, 2009 |
| Descrizione fisica: | 1 online resource (22 p.) |
| Soggetto topico: | Foreign exchange rates - Armenia |
| Devaluation of currency - Armenia | |
| Soggetto genere / forma: | Electronic books. |
| Altri autori: |
MinasyanGohar
StepanyanAra
|
| Note generali: | "March 2009". |
| Nota di bibliografia: | Contains bibliographical references. |
| Nota di contenuto: | Contents; I. Introduction; Figures; 1. Estimated Real Exchange Rate Misalignment; II. Purchasing Power Parity (PPP) Approach; 2. Armenian Price Level Relative to U.S. Price Level; 3. Relative Price Levels and Relative Incomes; 4. PPP Approach Equilibrium and Atual Real Exchanges; 5. PPP Approach: Real Exchange Rate Misalignment; III. Behavioral Equilibrium Real Exchange Rate (BEER) Approach; A. Productivity measures; B. Other equilibrium exchange rate determinants; C. Results; Tables; 1. BEER Approach: Augmented Dickey-Fuller Test Results; 2. BEER Approach: Estimated Cointegrating Vector |
| IV. External Sustainability (ES) Approach6. BEER Approach: Equilibrium and Actual REER; 7. BEER Approach: Real Exchange Rate Misalignment; 8. ES Approach: Real Exchange Rate Misalignment; V. Conclusion; 9. Estimated Real Exchange Rate Misalignment; References | |
| Sommario/riassunto: | This papers estimates the equilibrium exchange rate for Armenia using three different approaches: the purchasing power parity (PPP) approach, the behavioral equilibrium exchange rate (BEER) approach, and the external sustainability (ES) approach. All three approaches suggest that the dram was overvalued by about 20-30 percent prior to the devaluation of the dram in March 2009. |
| Titolo autorizzato: | In search of a dramatic equilibrium |
| ISBN: | 1-4623-5275-8 |
| 1-4527-3090-3 | |
| 9786612842719 | |
| 1-4518-7197-X | |
| 1-282-84271-4 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910464244503321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF working paper ; ; WP/09/49.