Estimating the equilibrium real exchange rate in Venezuela.
Bjørnland, Hilde C.;
- Publisher: Oslo: University of Oslo, Department of Economics
- Journal: Economics Bulletin,volume 6,issue 6,pages1-8
- Subject: Exchange rate fluctuations | C32 | E32 | F31 | structural VAR | Kaufkraftparität | Exchange rate fluctuations; purchasing power parity; structural VAR | purchasing power parity | Venezuela | VAR-Modell
- jel: jel:E32 | jel:F31 | jel:C32 | jel:F3ddc: ddc:330
To determine whether the real exchange rate is misaligned with respect to its long-run equilibrium is an important issue for policy makers. This paper clarifies and calculates the concept of the equilibrium real exchange rate, using a structural vector autoregression (V... View more