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Middle East and Central Asia > Jordan

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • Economic policy; nternational cooperation x
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Cover IMF Working Papers
To Smooth or Not to Smooth—The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan
Mr. Martin Petri
and
Tahsin Saadi Sedik
This paper estimates the effect of grants and workers' remittances on Jordan's long-term equilibrium real exchange rate. We estimate an equilibrium path for the Jordanian real exchange rate using the Johansen cointegration methodology over the period 1964 to 2005. Controlling for other fundamentals, we find that both grants and workers' remittances appreciate the equilibrium real exchange rate in a statistically and economically significant way. We also find that assessing deviations of the actual real exchange rate from the estimated equilibrium real exchange rate is nontrivial because different smoothing methodologies and the nonsmoothed estimates give very different results.
Keywords:
WP; exchange rate; ERER; Jordan; dinar; Jordanian dinar
Cover Growth and Stability in the Middle East and North Africa
Growth and Stability in the Middle East and North Africa
Ms. Sena Eken
,
Mr. Mohamed A. El-Erian
,
Ms. Susan Fennell
, and
Mr. Jean-Pierre Chauffour

Abstract

This paper provides an economic overview of the very diverse countries within the large geographical area. It highlights the economic challenges and opportunities facing the MENA region, the policies pursued by the countries in the region, and the outlook for the external environment. The paper concludes with eight policy recommendations.

Keywords:
MISC PUBS; Misc.; country; MENA country; government; enterprise; policy; GCC country; terms of trade; per capita income; trading monopoly; liberalization policy; a number of country; oil-exporting country; oil-producing country; resource allocation; oil country; Exports; Foreign direct investment; Labor markets; Terms of trade; Sub-Saharan Africa; Middle East; North Africa; Europe; East Africa