登入選單
返回Google圖書搜尋
Estimating the Equilibrium Real Exchange Rate
Mr.Tarhan Feyzioglu
其他書名
An Application to Finland
出版International Monetary Fund, 1997-09-01
主題Business & Economics / Foreign ExchangeBusiness & Economics / Exports & ImportsBusiness & Economics / Banks & Banking
ISBN14518531739781451853179
URLhttp://books.google.com.hk/books?id=1lgYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋An equilibrium exchange rate is here defined as the level that is consistent with simultaneous internal and external balances as specified in Montiel (1996). Exogenous “fundamental” variables determining these balances are identified. Along the lines of Edwards (1994), a reduced form is estimated with the cointegration technique for Finland for the period 1975-95. The estimation produced a reasonable set of equilibrium exchange rates that appreciate with positive shocks to the terms of trade, world real interest rates, and the productivity differential between Finland and its trading partners.