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Competitiveness in Bulgaria : An Assessment of the Real Effective Exchange Rate / Piritta Sorsa, Dimitar Chobanov.
- Format:
- Book
- Government document
- Author/Creator:
- Sorsa, Piritta.
- Series:
- IMF Working Papers; Working Paper ; No. 2004/037
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Competition--Bulgaria.
- Competition.
- Foreign exchange rates--Bulgaria.
- Foreign exchange rates.
- Physical Description:
- 1 online resource (25 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2004.
- Language Note:
- English
- Summary:
- This paper presents an empirical analysis of the medium- and long-term determinants of the real (effective) exchange rate (RER) of the Bulgarian lev using elements from the natural real exchange rate (NATREX) and the behavioral equilibrium exchange rate (BEER) approaches. The results indicate that the RER is driven by fundamentals, including labor productivity, terms of trade, world real interest rates, gross savings, and foreign direct investment. The model also shows that there is no significant misalignment of the Bulgarian lev.
- Contents:
- ""Contents""; ""I. INTRODUCTION""; ""II. COMPETITIVENESS, RER, AND TRANSITION COUNTRIES""; ""III. EMPIRICAL ANALYSIS OF THE RER IN BULGARIA""; ""IV. CONCLUSIONS""; ""APPENDIX I. EXPLANATION OF THE MODEL AND ITS SHORTCOMINGS""; ""APPENDIX II. ESTIMATION RESULTS""; ""REFERENCES""
- Notes:
- Description based upon print version of record.
- Includes bibliographical references.
- Description based on online resource; title from PDF cover (ebrary, viewed July 6, 2015).
- ISBN:
- 9786613782908
- 9781462388394
- 1462388396
- 9781452710938
- 1452710937
- 9781281602213
- 1281602213
- 9781451893045
- 1451893043
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