Series: IMF Working Papers
Author(s): Luca Ricci , Jaewoo Lee , and Gian Milesi-Ferretti
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2008
Keywords: equilibrium real exchange rate, Balassa-Samuelson effect, exchange rate, exchange rates, real exchange rate, net foreign assets, foreign assets,
This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms of trade to estimate a panel cointegrating relationship between real exchange rates and a set o...