To Smooth or Not to Smooth-The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan /

This paper estimates the effect of grants and workers' remittances on Jordan's long-term equilibrium real exchange rate. We estimate an equilibrium path for the Jordanian real exchange rate using the Johansen cointegration methodology over the period 1964 to 2005. Controlling for other fun...

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Autor principal: Petri, Martin
Altres autors: Saadi-Sedik, Tahsin
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 2006.
Col·lecció:IMF Working Papers; Working Paper ; No. 2006/257
Accés en línia:Full text available on IMF
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245 1 0 |a To Smooth or Not to Smooth-The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan /  |c Martin Petri, Tahsin Saadi-Sedik. 
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300 |a 1 online resource (37 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 This paper estimates the effect of grants and workers' remittances on Jordan's long-term equilibrium real exchange rate. We estimate an equilibrium path for the Jordanian real exchange rate using the Johansen cointegration methodology over the period 1964 to 2005. Controlling for other fundamentals, we find that both grants and workers' remittances appreciate the equilibrium real exchange rate in a statistically and economically significant way. We also find that assessing deviations of the actual real exchange rate from the estimated equilibrium real exchange rate is nontrivial because different smoothing methodologies and the nonsmoothed estimates give very different results. 
538 |a Mode of access: Internet 
700 1 |a Saadi-Sedik, Tahsin. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2006/257 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2006/257/001.2006.issue-257-en.xml  |z IMF e-Library