Effective Exchange Rates in Central and Eastern European Countries: Cyclicality and Relationship with Macroeconomic Fundamentals

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F15%3A%230003521" target="_blank" >RIV/47813059:19520/15:#0003521 - isvavai.cz</a>

Result on the web

<a href="http://is.muni.cz/do/econ/soubory/aktivity/obzor/6182612/58105360/2015_2_03_StavarekMiglietti.pdf" target="_blank" >http://is.muni.cz/do/econ/soubory/aktivity/obzor/6182612/58105360/2015_2_03_StavarekMiglietti.pdf</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1515/revecp-2015-0015" target="_blank" >10.1515/revecp-2015-0015</a>

Result language

angličtina

Original language name

Effective Exchange Rates in Central and Eastern European Countries: Cyclicality and Relationship with Macroeconomic Fundamentals

Original language description

This paper examines the evolution of effective exchange rates in nine Central and Eastern European countries in terms of development trends, volatility and cyclicality. Consequently, it provides direct empirical evidence on the nature of the relationshipbetween effective exchange rates and selected macroeconomic fundamentals, addressing a key precondition of numerous exchange rate determination models and theories that attempt to explain the role of exchange rates in the economy. The results suggest that flexible exchange rate arrangements are reflected in both nominal and real effective exchange rates having higher volatility and variability. Furthermore, the results provide mixed evidence in terms of intensity, direction and cyclicality, but show aweak correlation between exchange rates and fundamentals. Sufficiently high coefficients are found only for money supply. Consequently, using fundamentals for the determination of exchange rates and using the exchange rate to explain econ

Czech name

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AH - Economics

OECD FORD branch

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Project

<a href="/en/project/GA13-03783S" target="_blank" >GA13-03783S: Banking Sector and Monetary Policy: Lessons from New EU Countries after Ten Years of Membership</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2015

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Národohospodářský obzor - Review of Economic Perspectives

ISSN

1213-2446

e-ISSN

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Volume of the periodical

15

Issue of the periodical within the volume

2

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

21

Pages from-to

157-177

UT code for WoS article

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EID of the result in the Scopus database

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