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Exchange Rate Assessment
Mr. Peter IsardMr. Hamid Faruqee
其他書名
Extension of the Macroeconomic Balance Approach
出版International Monetary Fund, 1998-07-24
主題Business & Economics / Banks & BankingBusiness & Economics / Economics / MacroeconomicsBusiness & Economics / Public Finance
ISBN14527046009781452704609
URLhttp://books.google.com.hk/books?id=5jWCxSZE4KkC&hl=&source=gbs_api
註釋The IMF's internal analysis of exchange rate issues has been guided by, and limited by, the conceptual and empirical frameworks that have emerged from the collective research of the economics profession. The research has provided several general approaches that are useful for assessing whether countries' exchange rates seem broadly appropriate. One involves the calculation of purchasing power-party (PPP) measure or international competitiveness indicators. A second, known as the macroeconomic balance framework, focuses on the extent to which prevailing exchange rates and policies are consistent with simultaneous internal and external equilibrium over the medium run. Some recent extensions of the macroeconomic balance approach and the manner in which it is applied by the IMF staff are described in this paper.