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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...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Dunaway, Steven Vincent (Autor), Leigh, Lamin (Autor), Li, Xianming (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, 2006.
Colección:IMF working paper ; WP/06/220.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Dunaway, Steven Vincent,  |e author. 
245 1 0 |a How robust are estimates of equilibrium real exchange rates :  |b the case of China /  |c prepared by Steven Dunaway, Lamin Leigh, and Xianming Li. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c 2006. 
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490 1 |a IMF working paper ;  |v WP/06/220 
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520 |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. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
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505 0 |a Contents -- I. INTRODUCTION -- II. THE MACROECONOMIC BALANCE APPROACH -- III. THE EXTENDED PPP APPROACH: SINGLE-COUNTRY ESTIMATES -- IV. THE EXTENDED PPP APPROACH: PANEL DATA ESTIMATES -- V. CONCLUDING REMARKS -- APPENDIX. METHODOLOGICAL DIFFICULTIES OF DEALING WITH SLOPE HETEROGENEITY IN DYNAMIC PANEL DATA MODELS -- References 
546 |a English. 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Foreign exchange rates  |z China  |x Mathematical models. 
650 0 |a Foreign exchange  |z China. 
650 0 |a Equilibrium (Economics)  |x Econometric models. 
650 6 |a Taux de change  |z Chine  |x Modèles économétriques. 
650 6 |a Équilibre (Économie politique)  |x Modèles économétriques. 
650 6 |a Taux de change  |z Chine  |x Modèles mathématiques. 
650 6 |a Change  |z Chine. 
650 7 |a Equilibrium (Economics)  |x Econometric models  |2 fast 
650 7 |a Foreign exchange  |2 fast 
650 7 |a Foreign exchange rates  |x Mathematical models  |2 fast 
651 7 |a China  |2 fast  |1 https://id.oclc.org/worldcat/entity/E39PBJcrd4RjtCBk4wfMhTwwG3 
700 1 |a Leigh, Lamin,  |e author. 
700 1 |a Li, Xianming,  |e author. 
776 0 8 |i Print version:  |a Dunaway, Steven Vincent.  |t How robust are estimates of equilibrium real exchange rates.  |d Washington, D.C. : International Monetary Fund, Asia and Pacific Dept., ©2006  |w (OCoLC)124039959 
830 0 |a IMF working paper ;  |v WP/06/220. 
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