Estimating equilibrium real exchange rates: A menu approach

Author(s): Harriott, K. Kenton; Worrell, DeLisle (1997)

Created 22 Jul, 1997
Categories Working Papers
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"Employing three methodological frameworks, this paper seeks to identify and monitor the evolution of equilibrium real exchange rates (RER) for selected developing countries over time. The main findings of this paper are consistent with existing studies with respect to the effect of certain key ""fundamentals"" (such as capital controls and technological progress) on RER movements. However, an unusual result is seen in that an improvement in terms of trade is found to depreciate the RER."

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