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Exchange Rate Assessments : CGER Methodologies / Luca Ricci, Jonathan Ostry, Jaewoo Lee, Alessandro Prati, Gian Milesi-Ferretti.
- Format:
- Book
- Government document
- Author/Creator:
- Ricci, Luca.
- Series:
- Occasional Papers; Occasional Paper ; No. 2008/002
- Occasional Papers
- Language:
- English
- Subjects (All):
- International Monetary Fund. Coordinating Group on Exchange Rate Issues.
- International Monetary Fund.
- Physical Description:
- 1 online resource (33 p.)
- Edition:
- 1st ed.
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2008.
- Summary:
- The rapid increase in international trade and financial integration over the past decade and the growing importance of emerging markets in world trade and GDP have inspired the IMF to place stronger emphasis on multilateral surveillance, macro-financial linkages, and the implications of globalization. The IMF's Consultative Group on Exchange Rate Issues (CGER)--formed in the mid-1990s to provide exchange rate assessments for a number of advanced economies from a multilateral perspective--has therefore broadened its mandate to cover both key advanced economies and major emerging market economies. This Occasional Paper summarizes the methodologies that underpin the expanded analysis.
- Contents:
- Cover; Contents; Preface; List of Abbreviations; I: Overview; II: Macroeconomic Balance Approach; Theoretical Background and Variable Definitions; Estimation Results; Tables; 1. Macroeconomic Balance Approach: Current Account Regressions; Current Account Norms; Exchange Rate Assessments; Appendix 2.1. MB Approach: Data and Methodology; 2. Macroeconomic Balance Approach: Illustrative Current Account Norms; III: Equilibrium Real Exchange Rate Approach; Theoretical Background and Variable Definitions; Estimation Results; 3. Equilibrium Real Exchange Rate Approach: Regressions
- Equilibrium Real Exchange RatesExchange Rate Assessments; Appendix 3.1. ERER Approach: Data and Methodology; IV: External Sustainability; Theoretical Background; Choosing a Benchmark Level for Net Foreign Assets; An Example: Using 2006 NFA as the Benchmark Level; Current Account, Net Foreign Assets, and Exchange Rate Adjustment; 4. External Sustainability: Current Account Stabilizing NFA at 2006 Level; Appendix 4.1. ES Approach: An Extension; V: Conclusions; References
- Notes:
- Description based upon print version of record.
- Description based on publisher supplied metadata and other sources.
- ISBN:
- 9781462319916
- 1462319912
- 9781452775555
- 1452775559
- OCLC:
- 870245404
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