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Contenuto archiviato il 2024-05-14

The equilibrium exchange rate

Obiettivo



The concepts of currency overvaluation and undervaluation imply a willingness to make judgments about where an equilibrium exchange rate lies.
The main objective of the project is an evaluation of equilibrium exchange rates. This will involve an extension of Williamson's concept of the Fundamental Equilibrium Exchange Rate. This concept will be extended in two directions. First, statistical analysis of the long-run properties of the economies of interest will be undertaken. Second, an analysis of the objectives of the authorities and the targets of the private sector will be undertaken. The former extension will use multivariable cointegration analysis, while the later will involve a study of the effects of governments debt stocks and private sector wealth accumulation on the equilibrium current account and exchange rate.
Being able to make sensible estimates of equilibrium exchange rates is the key importance to rational, outwarded-oriented macroeconomic management.

Campo scientifico (EuroSciVoc)

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Programma(i)

Argomento(i)

Invito a presentare proposte

Dati non disponibili

Meccanismo di finanziamento

RGI - Research grants (individual fellowships)

Coordinatore

NATIONAL INSTITUTE OF ECONOMIC AND SOCIAL RESEARCH
Contributo UE
Nessun dato
Indirizzo
2,Dean Trench street 2
SW1P 3HE London
Regno Unito
Costo totale
Nessun dato

Partecipanti (1)