How Robust are Estimates of Equilibrium Real Exchange Rates : The Case of China /

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...

Cijeli opis

Bibliografski detalji
Glavni autor: Leigh, Lamin
Daljnji autori: Dunaway, Steven, Li, Xiangming
Format: Žurnal
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 2006.
Serija:IMF Working Papers; Working Paper ; No. 2006/220
Online pristup:Full text available on IMF
LEADER 01949cas a2200265 a 4500
001 AALejournalIMF004338
008 230101c9999 xx r poo 0 0eng d
020 |c 5.00 USD 
020 |z 9781451864809 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a Leigh, Lamin. 
245 1 0 |a How Robust are Estimates of Equilibrium Real Exchange Rates :   |b The Case of China /  |c Lamin Leigh, Steven Dunaway, Xiangming Li. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2006. 
300 |a 1 online resource (13 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a 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. 
538 |a Mode of access: Internet 
700 1 |a Dunaway, Steven. 
700 1 |a Li, Xiangming. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2006/220 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2006/220/001.2006.issue-220-en.xml  |z IMF e-Library