skip to content
Estimating the equilibrium real exchange rate : an application to Finland Preview this item
ClosePreview this item
Checking...

Estimating the equilibrium real exchange rate : an application to Finland

Author: Tarhan N Feyzioğlu; International Monetary Fund. European I Department.
Publisher: [Washington, D.C.] : International Monetary Fund, European I Dept., ©1997.
Series: IMF working paper, WP/97/109.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
There is a wealth of theoretical and empirical work on the determinants of the equilibrium real exchange rate. One important strand of the literature is associated with Williamson's seminal work (Williamson 1985), which has its roots in an approach developed at the IMF (Artus 1977).2 Williamson defines the fundamental equilibrium exchange rate, FEER, as the rate that is consistent with the simultaneous achievement  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Genre/Form: Electronic books
Additional Physical Format: Print version:
Feyzioğlu, Tarhan N.
Estimating the equilibrium real exchange rate.
[Washington, D.C.] : International Monetary Fund, European I Dept., ©1997
(OCoLC)37746830
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Tarhan N Feyzioğlu; International Monetary Fund. European I Department.
ISBN: 128201482X 9781282014824
OCLC Number: 648400299
Reproduction Notes: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010. MiAaHDL
Description: 1 online resource (24 pages) : illustrations.
Details: Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Series Title: IMF working paper, WP/97/109.
Other Titles: Equilibrium real exchange rate
Responsibility: prepared by Tarhan Feyzioğlu.

Abstract:

There is a wealth of theoretical and empirical work on the determinants of the equilibrium real exchange rate. One important strand of the literature is associated with Williamson's seminal work (Williamson 1985), which has its roots in an approach developed at the IMF (Artus 1977).2 Williamson defines the fundamental equilibrium exchange rate, FEER, as the rate that is consistent with the simultaneous achievement of internal and external balance. Internal balance is defined as the level of economic activity that keeps the inflation rate constant. In Williamson's approach, the concept of external balance contains a normative element: the external position is balanced if the external current account (once adjusted for cyclical movements) can be regarded not only as sustainable (that is, meeting the country's intertemporal budget constraint), but also as "appropriate" (for example, based on desired levels of saving and investment). In order to determine the FEER, it is first necessary to formulate an econometric model for the trade sector that captures the relationships among output, current account, demand, and competitiveness. The FEER is then calculated as the exchange rate that maintains internal and external equilibrium. A critical summary of this approach by Black (1994) points out that serious questions remain concerning the normative choices on the model to be used, particularly the target for the current account.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/648400299> # Estimating the equilibrium real exchange rate : an application to Finland
    a schema:MediaObject, schema:Book, schema:CreativeWork ;
   library:oclcnum "648400299" ;
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/dcu> ;
   library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/342033797#Place/washington_d_c> ; # Washington, D.C.
   rdfs:comment "Unknown 'gen' value: igp" ;
   schema:about <http://id.worldcat.org/fast/931818> ; # Foreign exchange rates--Econometric models
   schema:about <http://experiment.worldcat.org/entity/work/data/342033797#Topic/termes_de_l_echange_finlande_modeles_econometriques> ; # Termes de l'échange--Finlande--Modèles économétriques
   schema:about <http://experiment.worldcat.org/entity/work/data/342033797#Topic/productivite_finlande_modeles_econometriques> ; # Productivité--Finlande--Modèles économétriques
   schema:about <http://id.worldcat.org/fast/1205503> ; # Finland.
   schema:about <http://experiment.worldcat.org/entity/work/data/342033797#Topic/terms_of_trade_finland_econometric_models> ; # Terms of trade--Finland--Econometric models
   schema:about <http://id.worldcat.org/fast/976180> ; # Interest rates--Econometric models
   schema:about <http://experiment.worldcat.org/entity/work/data/342033797#Topic/taux_de_change_finlande_modeles_econometriques> ; # Taux de change--Finlande--Modèles économétriques
   schema:about <http://id.worldcat.org/fast/971508> ; # Industrial productivity--Econometric models
   schema:about <http://id.worldcat.org/fast/1147950> ; # Terms of trade--Econometric models
   schema:about <http://experiment.worldcat.org/entity/work/data/342033797#Topic/taux_d_interet_finlande_modeles_econometriques> ; # Taux d'intérêt--Finlande--Modèles économétriques
   schema:about <http://experiment.worldcat.org/entity/work/data/342033797#Topic/industrial_productivity_finland_econometric_models> ; # Industrial productivity--Finland--Econometric models
   schema:about <http://experiment.worldcat.org/entity/work/data/342033797#Topic/interest_rates_finland_econometric_models> ; # Interest rates--Finland--Econometric models
   schema:about <http://experiment.worldcat.org/entity/work/data/342033797#Topic/foreign_exchange_rates_finland_econometric_models> ; # Foreign exchange rates--Finland--Econometric models
   schema:alternateName "Equilibrium real exchange rate" ;
   schema:bookFormat schema:EBook ;
   schema:contributor <http://viaf.org/viaf/152729466> ; # International Monetary Fund. European I Department.
   schema:copyrightYear "1997" ;
   schema:creator <http://viaf.org/viaf/78356191> ; # Tarhan N. Feyzioğlu
   schema:datePublished "1997" ;
   schema:description "There is a wealth of theoretical and empirical work on the determinants of the equilibrium real exchange rate. One important strand of the literature is associated with Williamson's seminal work (Williamson 1985), which has its roots in an approach developed at the IMF (Artus 1977).2 Williamson defines the fundamental equilibrium exchange rate, FEER, as the rate that is consistent with the simultaneous achievement of internal and external balance. Internal balance is defined as the level of economic activity that keeps the inflation rate constant. In Williamson's approach, the concept of external balance contains a normative element: the external position is balanced if the external current account (once adjusted for cyclical movements) can be regarded not only as sustainable (that is, meeting the country's intertemporal budget constraint), but also as "appropriate" (for example, based on desired levels of saving and investment). In order to determine the FEER, it is first necessary to formulate an econometric model for the trade sector that captures the relationships among output, current account, demand, and competitiveness. The FEER is then calculated as the exchange rate that maintains internal and external equilibrium. A critical summary of this approach by Black (1994) points out that serious questions remain concerning the normative choices on the model to be used, particularly the target for the current account."@en ;
   schema:exampleOfWork <http://worldcat.org/entity/work/id/342033797> ;
   schema:genre "Electronic books"@en ;
   schema:genre "Government publication"@en ;
   schema:inLanguage "en" ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/342033797#Series/imf_working_paper> ; # IMF working paper ;
   schema:isSimilarTo <http://www.worldcat.org/oclc/37746830> ;
   schema:name "Estimating the equilibrium real exchange rate : an application to Finland"@en ;
   schema:productID "648400299" ;
   schema:publication <http://www.worldcat.org/title/-/oclc/648400299#PublicationEvent/washington_d_c_international_monetary_fund_european_i_dept_1997> ;
   schema:publisher <http://experiment.worldcat.org/entity/work/data/342033797#Agent/international_monetary_fund_european_i_dept> ; # International Monetary Fund, European I Dept.
   schema:url <http://www.myilibrary.com?id=379605&ref=toc> ;
   schema:url <http://www.myilibrary.com?id=379605> ;
   schema:url <http://bibpurl.oclc.org/web/24285/wp97109.pdf> ;
   schema:url <http://www.imf.org/external/pubs/ft/wp/wp97109.pdf> ;
   schema:url <http://catalog.hathitrust.org/api/volumes/oclc/37746830.html> ;
   schema:workExample <http://worldcat.org/isbn/9781282014824> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/648400299> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/342033797#Agent/international_monetary_fund_european_i_dept> # International Monetary Fund, European I Dept.
    a bgn:Agent ;
   schema:name "International Monetary Fund, European I Dept." ;
    .

<http://experiment.worldcat.org/entity/work/data/342033797#Place/washington_d_c> # Washington, D.C.
    a schema:Place ;
   schema:name "Washington, D.C." ;
    .

<http://experiment.worldcat.org/entity/work/data/342033797#Series/imf_working_paper> # IMF working paper ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/648400299> ; # Estimating the equilibrium real exchange rate : an application to Finland
   schema:name "IMF working paper ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/342033797#Topic/foreign_exchange_rates_finland_econometric_models> # Foreign exchange rates--Finland--Econometric models
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh91004893> ;
   schema:name "Foreign exchange rates--Finland--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/342033797#Topic/industrial_productivity_finland_econometric_models> # Industrial productivity--Finland--Econometric models
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh85065915> ;
   schema:name "Industrial productivity--Finland--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/342033797#Topic/interest_rates_finland_econometric_models> # Interest rates--Finland--Econometric models
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh85067247> ;
   schema:name "Interest rates--Finland--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/342033797#Topic/productivite_finlande_modeles_econometriques> # Productivité--Finlande--Modèles économétriques
    a schema:Intangible ;
   schema:name "Productivité--Finlande--Modèles économétriques"@fr ;
    .

<http://experiment.worldcat.org/entity/work/data/342033797#Topic/taux_d_interet_finlande_modeles_econometriques> # Taux d'intérêt--Finlande--Modèles économétriques
    a schema:Intangible ;
   schema:name "Taux d'intérêt--Finlande--Modèles économétriques"@fr ;
    .

<http://experiment.worldcat.org/entity/work/data/342033797#Topic/taux_de_change_finlande_modeles_econometriques> # Taux de change--Finlande--Modèles économétriques
    a schema:Intangible ;
   schema:name "Taux de change--Finlande--Modèles économétriques"@fr ;
    .

<http://experiment.worldcat.org/entity/work/data/342033797#Topic/termes_de_l_echange_finlande_modeles_econometriques> # Termes de l'échange--Finlande--Modèles économétriques
    a schema:Intangible ;
   schema:name "Termes de l'échange--Finlande--Modèles économétriques"@fr ;
    .

<http://experiment.worldcat.org/entity/work/data/342033797#Topic/terms_of_trade_finland_econometric_models> # Terms of trade--Finland--Econometric models
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh85134041> ;
   schema:name "Terms of trade--Finland--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/1147950> # Terms of trade--Econometric models
    a schema:Intangible ;
   schema:name "Terms of trade--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/1205503> # Finland.
    a schema:Place ;
   schema:name "Finland." ;
    .

<http://id.worldcat.org/fast/931818> # Foreign exchange rates--Econometric models
    a schema:Intangible ;
   schema:name "Foreign exchange rates--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/971508> # Industrial productivity--Econometric models
    a schema:Intangible ;
   schema:name "Industrial productivity--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/976180> # Interest rates--Econometric models
    a schema:Intangible ;
   schema:name "Interest rates--Econometric models"@en ;
    .

<http://viaf.org/viaf/152729466> # International Monetary Fund. European I Department.
    a schema:Organization ;
   schema:name "International Monetary Fund. European I Department." ;
    .

<http://viaf.org/viaf/78356191> # Tarhan N. Feyzioğlu
    a schema:Person ;
   schema:familyName "Feyzioğlu" ;
   schema:givenName "Tarhan N." ;
   schema:name "Tarhan N. Feyzioğlu" ;
    .

<http://worldcat.org/isbn/9781282014824>
    a schema:ProductModel ;
   schema:isbn "128201482X" ;
   schema:isbn "9781282014824" ;
    .

<http://www.worldcat.org/oclc/37746830>
    a schema:CreativeWork ;
   rdfs:label "Estimating the equilibrium real exchange rate." ;
   schema:description "Print version:" ;
   schema:isSimilarTo <http://www.worldcat.org/oclc/648400299> ; # Estimating the equilibrium real exchange rate : an application to Finland
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.