Estimating Equilibrium Exchange Rates for Armenia and Georgia / / Shuang Ding, Omar Al Shehabi
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| Autore: |
Ding Shuang
|
| Titolo: |
Estimating Equilibrium Exchange Rates for Armenia and Georgia / / Shuang Ding, Omar Al Shehabi
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2008 |
| Edizione: | 1st ed. |
| Descrizione fisica: | 1 online resource (23 p.) |
| Disciplina: | 332.45 |
| Soggetto topico: | Foreign exchange rates - Armenia (Republic) - Econometric models |
| Foreign exchange rates - Georgia (Republic) - Econometric models | |
| Balance of payments | |
| Currency | |
| Current Account Adjustment | |
| Current account balance | |
| Economic policy | |
| Empirical Studies of Trade | |
| Exchange rates | |
| Exports and Imports | |
| Foreign Exchange | |
| Foreign exchange | |
| International economics | |
| Nternational cooperation | |
| Real effective exchange rates | |
| Real exchange rates | |
| Short-term Capital Movements | |
| Terms of trade | |
| Soggetto geografico: | Georgia |
| Altri autori: |
Al ShehabiOmar
|
| Note generali: | Description based upon print version of record. |
| Nota di bibliografia: | Includes bibliographical references. |
| Nota di contenuto: | Contents; I. Introduction; II. Stylized Facts on External Competitiveness; Figures; 1. Armenia and Georgia: Real Effective Exchange Rates, 1995-2007; 2. Armenia and Georgia: Terms of Trade, 1995-2007; 3. Armenia and Georgia: External Current Account Balance, 1995-2007; 4. Armenia and Georgia: Real Per-Capita GDP in Local Currencies, 1995-2007; 5. Armenia and Georgia: Industrial Unit Labor Costs, 1999-2006; III. Application of the BEER; A. Theoretical Background; B. Selection of Variables; C. Econometric Methodology; D. Estimation Results |
| 6. Armenia and Georgia: Exchange Rate Misalignment, 1997-2006IV. Conclusion; 7. Armenia and Georgia: Equilibrium Real Exchange Rate Index, 1997-2006; Appendix; Methodology, Data Construction, and Results; A. Methodology and Data Construction; Tables; 1. Armenia: Estimated Coefficients for Several Lag Specifications; 2. Georgia: Estimated Coefficients for Several Lag Specifications; B. Results; 3. Armenia: Long-Run Relationship Results Using the Bound Testing Approach; 4. Georgia: Long-Run Relationship Results Using the Bound Testing Approach | |
| 5. Armenia and Georgia: Johansen Cointegration Test and VECM Results6. Armenia and Georgia: Estimated Coefficients and Information Criteria Using Johansen's Approach; References | |
| Sommario/riassunto: | The significant real exchange rate appreciation in Armenia and Georgia since 2003, coupled with persistent current account deficits, raises the question of whether real exchange rates have become overvalued. This paper seeks to identify possible exchange rate misalignment by applying the behavioral equilibrium exchange rate approach, complemented by an analysis of the traditional competitiveness indicators. The results indicate an undervaluation of the Armenian dram and no significant misalignment of the Georgian lari in 2006. |
| Titolo autorizzato: | Estimating Equilibrium Exchange Rates for Armenia and Georgia |
| ISBN: | 1-4623-4066-0 |
| 1-4527-7431-5 | |
| 9786612840647 | |
| 1-282-84064-9 | |
| 1-4518-6970-3 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910813694303321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2008/110