On exchange rate misalignments in the Eurozone's peripheral countries

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F13%3A00205756" target="_blank" >RIV/62156489:43110/13:00205756 - isvavai.cz</a>

Výsledek na webu

<a href="http://dx.doi.org/10.1063/1.4825893" target="_blank" >http://dx.doi.org/10.1063/1.4825893</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1063/1.4825893" target="_blank" >10.1063/1.4825893</a>

Jazyk výsledku

angličtina

Název v původním jazyce

On exchange rate misalignments in the Eurozone's peripheral countries

Popis výsledku v původním jazyce

In this paper we model equilibrium exchange rates for the Eurozone's countries on the basis of the Behavioural Equilibrium Exchange Rate approach, which assumes, that equilibrium exchange rates are in the long run affected by economic fundamentals. To assess the degree of exchange rate misalignment for the Eurozone's peripheral countries -- Portugal, Ireland, Greece and Spain --the gap between the actual and the modelled equilibrium exchange rate valueis calculated. Our results show that Spain, Portugaland Ireland had their real exchange rates in equilibrium when they joined the Eurozone; however their real exchange rates have been persistently overvalued since the beginning of the 2000s. Greece, on the other hand, has experienced diminishing undervaluation at the beginning of its membership in the Eurozone and since 2009 has exhibited an overvalued real exchange rate.

Název v anglickém jazyce

On exchange rate misalignments in the Eurozone's peripheral countries

Popis výsledku anglicky

In this paper we model equilibrium exchange rates for the Eurozone's countries on the basis of the Behavioural Equilibrium Exchange Rate approach, which assumes, that equilibrium exchange rates are in the long run affected by economic fundamentals. To assess the degree of exchange rate misalignment for the Eurozone's peripheral countries -- Portugal, Ireland, Greece and Spain --the gap between the actual and the modelled equilibrium exchange rate valueis calculated. Our results show that Spain, Portugaland Ireland had their real exchange rates in equilibrium when they joined the Eurozone; however their real exchange rates have been persistently overvalued since the beginning of the 2000s. Greece, on the other hand, has experienced diminishing undervaluation at the beginning of its membership in the Eurozone and since 2009 has exhibited an overvalued real exchange rate.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/7E12049" target="_blank" >7E12049: Welfare, Wealth and Work for Europe</a><br>

Návaznosti

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

Rok uplatnění

2013

Kód důvěrnosti údajů

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

Název statě ve sborníku

11th International Conference of Numerical Analysis and Applied Mathematics 2013: ICNAAM 2013, AIP Conference Proceedings

ISBN

978-0-7354-1184-5

ISSN

—

e-ISSN

—

Počet stran výsledku

4

Strana od-do

1863-1866

Název nakladatele

American Institute of Physics

Místo vydání

Melville, New York

Místo konání akce

Rhodes, Greece

Datum konání akce

21. 9. 2013

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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