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Autore: | Dunaway Steven Vincent |
Titolo: | How robust are estimates of equilibrium real exchange rates : the case of China / / prepared by Steven Dunaway, Lamin Leigh, and Xianming Li |
Pubblicazione: | [Washington, D.C.], : International Monetary Fund, 2006 |
Edizione: | 1st ed. |
Descrizione fisica: | 1 online resource (15 p.) |
Soggetto topico: | Foreign exchange rates - China - Mathematical models |
Foreign exchange - China | |
Altri autori: | LeighLamin LiXianming |
Note generali: | "October 2006." |
Nota di bibliografia: | Includes bibliographical references. |
Nota di contenuto: | ""Contents""; ""I. INTRODUCTION""; ""II. THE MACROECONOMIC BALANCE APPROACH""; ""III. THE EXTENDED PPP APPROACH: SINGLE-COUNTRY ESTIMATES""; ""IV. THE EXTENDED PPP APPROACH: PANEL DATA ESTIMATES""; ""V. CONCLUDING REMARKS""; ""APPENDIX. METHODOLOGICAL DIFFICULTIES OF DEALING WITH SLOPE HETEROGENEITY IN DYNAMIC PANEL DATA MODELS""; ""References"" |
Sommario/riassunto: | Increased attention is being paid to assessments of the actual values of countries' real exchange rates relative to their "equilibrium" values as suggested by "fundamental" determining factors. This paper assesses the robustness of alternative approaches and models commonly used to derive equilibrium real exchange rate estimates. Using China's currency to illustrate this analysis, the variance in estimates raises serious questions regarding how robust the results are. The basic conclusion from the tests used here is that, at least for China, small changes in model specifications, explanatory variable definitions, and time periods used in estimation can lead to very substantial differences in equilibrium real exchange rate estimates. Thus, such estimates should be treated with great caution. |
Titolo autorizzato: | How robust are estimates of equilibrium real exchange rates |
ISBN: | 1-4623-4576-X |
1-4527-6527-8 | |
1-283-51355-2 | |
9786613826008 | |
1-4519-0933-0 | |
Formato: | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione: | Inglese |
Record Nr.: | 9910825683303321 |
Lo trovi qui: | Univ. Federico II |
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