Behavioral equilibrium exchange rate in Greece and Ireland

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F12%3A00190641" target="_blank" >RIV/62156489:43110/12:00190641 - isvavai.cz</a>

Výsledek na webu

<a href="http://mme2012.opf.slu.cz/proceedings/proceedings.php" target="_blank" >http://mme2012.opf.slu.cz/proceedings/proceedings.php</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Behavioral equilibrium exchange rate in Greece and Ireland

Popis výsledku v původním jazyce

Open macroeconomics sees real exchange rate as an important tool in maintaining macroeconomic balance. When euro area countries adopted the common currency euro, they have lost the opportunity to adjust their real exchange rates via changes in nominal exchange rates, thus these countries can correct for real exchange rate overvaluation only through internal devaluation or an exit from the euro area. This paper focuses on equilibrium exchange rates for Greece and Ireland since their entrance into the euro area until the end of the year 2011. To examine the real exchange rate misalignment for Greece and Ireland towards the rest of the euro area, the concepts of Behavioral Equilibrium Exchange Rate (BEER) and Permanent Equilibrium Exchange Rate (PEER) areapplied. We find that the real exchange rate of both Greece and Ireland was undervalued towards the euro around the time, when these countries entered the euro area. Further we uncover that for the rest of the period analyzed the Irish a

Název v anglickém jazyce

Behavioral equilibrium exchange rate in Greece and Ireland

Popis výsledku anglicky

Open macroeconomics sees real exchange rate as an important tool in maintaining macroeconomic balance. When euro area countries adopted the common currency euro, they have lost the opportunity to adjust their real exchange rates via changes in nominal exchange rates, thus these countries can correct for real exchange rate overvaluation only through internal devaluation or an exit from the euro area. This paper focuses on equilibrium exchange rates for Greece and Ireland since their entrance into the euro area until the end of the year 2011. To examine the real exchange rate misalignment for Greece and Ireland towards the rest of the euro area, the concepts of Behavioral Equilibrium Exchange Rate (BEER) and Permanent Equilibrium Exchange Rate (PEER) areapplied. We find that the real exchange rate of both Greece and Ireland was undervalued towards the euro around the time, when these countries entered the euro area. Further we uncover that for the rest of the period analyzed the Irish a

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

Z - Vyzkumny zamer (s odkazem do CEZ)

Rok uplatnění

2012

Kód důvěrnosti údajů

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

Název statě ve sborníku

Proceedings of the 30th International Conference Mathematical Methods in Economics 2012

ISBN

978-80-7248-779-0

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

715-720

Název nakladatele

Silesian University in Opava, School of Business Administration in Karviná

Místo vydání

Karviná

Místo konání akce

Karviná

Datum konání akce

1. 1. 2012

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

316715900123