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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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Saadi-Sedik, Tahsin (Autor), Petri, Martin (Autor)
Autor Corporativo: International Monetary Fund. Middle East and Central Asia Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, Middle East and Central Asia Dept., ©2006.
Colección:IMF working paper ; WP/06/257.
Temas:
Foreign exchange rates > Jordan > Mathematical models.
Emigrant remittances > Jordan > Mathematical models.
Grants-in-aid > Jordan > Mathematical models.
Smoothing (Numerical analysis)
Emigrant remittances > Jordan.
Economic assistance > Jordan.
Taux de change > Jordanie.
Envois de fonds des émigrants > Jordanie.
Aide économique > Jordanie.
Taux de change > Jordanie > Modèles mathématiques.
Envois de fonds des émigrants > Jordanie > Modèles mathématiques.
Subventions de l'État aux collectivités locales > Jordanie > Modèles mathématiques.
Lissage (Analyse numérique)
Emigrant remittances
Economic assistance
Emigrant remittances > Mathematical models
Foreign exchange rates > Mathematical models
Grants-in-aid > Mathematical models
Jordanie > Politique économique.
Jordan
Acceso en línea:Texto completo
Descripción
Sumario: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.
Descripción Física:1 online resource (37 pages) : illustrations
Bibliografía:Includes bibliographical references (pages 35-37).
ISBN:1283512742
9781283512749
9781451909708
1451909705
1462352820
9781462352821
1452780404
9781452780405
9786613825193
6613825190

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