Real Exchange Rates In Transition Economies
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Equilibrium Exchange Rates In Transition Economies
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Author : Lionel Halpern
language : en
Publisher: International Monetary Fund
Release Date : 1996-11-01
Equilibrium Exchange Rates In Transition Economies written by Lionel Halpern and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-11-01 with Business & Economics categories.
A stylized fact of the transition process is an early profound exchange rate depreciation followed by continuing real appreciation. Absent historical reference points, it is difficult to judge whether the real appreciation is threatening competitiveness. This paper interprets the stylized facts and offers estimates of the equilibrium real exchange rate based on an international comparison of dollar wages and on a study of the dynamics of real exchange rates in several transition economies. The results suggest that the process of real appreciation is a combination of a return to equilibrium following the early overshooting and equilibrium appreciation.
The Real Exchange Rate In Transition Economies
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Author : Clemens Grafe
language : en
Publisher:
Release Date : 1997
The Real Exchange Rate In Transition Economies written by Clemens Grafe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Economics categories.
Interpreting Real Exchange Rate Movements In Transition Countries
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Author : Mark de Broeck
language : en
Publisher:
Release Date : 2001
Interpreting Real Exchange Rate Movements In Transition Countries written by Mark de Broeck and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Foreign exchange rates categories.
Balance Of Payments Exchange Rates And Competitiveness In Transition Economies
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Author : Mario I. Blejer
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-08-23
Balance Of Payments Exchange Rates And Competitiveness In Transition Economies written by Mario I. Blejer and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-08-23 with Business & Economics categories.
Integrating transition economies into the global commercial and trade market system is a prolonged and risky process. This book is a collection of studies dealing with the different issues related to the liberalization of external relations in economies moving from a socialist to a market-based system The focus is on external sector developments, and the topics deal with balance of payments conditions, exchange rate policies and regimes, international competitiveness, international capital flows, trade, and other matters related to the integration of transition economies into the world economy. An understanding of the principles involved and of the experiences of both transition and advanced economies during this process is crucial to ensure its ultimate success. Written by internationally recognized scholars, the chapters cover these issues in a systematic manner. The first section treats current account developments, capital flows, and exchange rate policies in transition countries, the second section deals with specific issues related to international trade, and the final section consists of six specific country experiences. In this final section, a chapter dealing with the Russian Federation discusses the collapse of the ruble in August 1998.
Real Exchange Rate Dynamics In Transition Economies
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Author : Fabrizio Coricelli
language : en
Publisher:
Release Date : 2001
Real Exchange Rate Dynamics In Transition Economies written by Fabrizio Coricelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Foreign exchange rates categories.
Interpreting Real Exchange Rate Movements In Transition Countries
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Author : International Monetary Fund
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2001-05-01
Interpreting Real Exchange Rate Movements In Transition Countries written by International Monetary Fund and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-05-01 with Business & Economics categories.
Several transition countries have experienced strong real exchange rate appreciations. This paper tests the hypothesis that these appreciations reflect underlying productivity gains in the tradable sector. Using panel data over the period 1993-98, the results show clear evidence of productivity-driven exchange rate movements in the central and eastern European and Baltic countries. Transition countries, particularly the EU accession countries that have begun to catch up, can expect to experience further productivity-driven real exchange rate appreciations. Evidence from a large cross-section of non-transition countries indicates that catching up by one percent will be associated with a 0.4 percent real appreciation.
Exchange Rate Regimes In Selected Advanced Transition Economies
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2000-04-01
Exchange Rate Regimes In Selected Advanced Transition Economies written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-04-01 with Business & Economics categories.
Since beginning economic transition, the Czech Republic, Estonia, Hungary, Poland, and Slovenia have—with much success—employed diverse exchange rate regimes. As these countries approach EU accession, they will need to avoid the perils of too much or too little exchange rate variability when capital flows are likely to be large and volatile; narrow band arrangements in particular could be problematic. The exception is Estonia, where there are good arguments for retaining the currency board arrangement. Countries wishing to join the euro area at an early stage should not leave the removal of remaining capital controls to the last minute.
Approaches To Exchange Rate Policy
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Author : Mr.Richard C. Bart
language : en
Publisher: International Monetary Fund
Release Date : 1994-06-01
Approaches To Exchange Rate Policy written by Mr.Richard C. Bart and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-06-01 with Business & Economics categories.
External sector policies and exchange rate policy are central to a country's economic performance and to the IMF's surveillance functions. The papers in this book, edited by Richard Barth and Chorng-Huey Wong, were presented at a seminar on Exchange Rate Policy in Developing and Transition Economies held by the IMF Institute. They analyze choices of exchange rate regimes, issues affecting management of exchange regimes, and specific types of regimes, including case studies from the former Soviet Union, Africa, Asia, and Latin America.
Exchange Rate Policies Prices And Supply Side Response
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Author : Christos Papazoglou
language : en
Publisher: Springer
Release Date : 2001-05-15
Exchange Rate Policies Prices And Supply Side Response written by Christos Papazoglou and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-05-15 with Business & Economics categories.
This book, based upon a large-scale research project, examines alternative types of exchange rate policies being pursued and the changing nature of exchange rate policy during the transition process in four countries, Slovenia, Bulgaria, Poland and the Czech Republic. The book brings together a series of original contributions by country experts and draws out some common themes and over-arching policy implications for the operation of exchange rate policy in the transition process.
Dollarization In Transition Economies
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Author : Ms.Ratna Sahay
language : en
Publisher: International Monetary Fund
Release Date : 1995-09-01
Dollarization In Transition Economies written by Ms.Ratna Sahay and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-09-01 with Business & Economics categories.
After most restrictions on foreign currency holdings were relaxed in the early 1990s, foreign currency deposits in transition economies have been increasing rapidly. This paper takes a first look at the evidence on dollarization for 15 transition economies, and then discusses some key conceptual and policy implications. Depending on the institutional constraints, foreign currency deposits as a proportion of broad money reached a peak of between 30 and 60 percent in 1992-93. Unlike what has been observed in Latin America, however, dollarization has fallen substantially in the aftermath of successful stabilization plans in Estonia, Lithuania, Mongolia, and Poland. Since foreign currency deposits reflect mainly a portfolio choice, the fall in dollarization can be primarily attributed to higher real returns on domestic-currency assets, as a result of lower inflation and more market-determined interest rates.