Behavioral Equilibrium Exchange Rates: Re-Estimation for the Euro Area Countries

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F15%3A43906747" target="_blank" >RIV/62156489:43110/15:43906747 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.fundacionmapfre.org/documentacion/publico/i18n/catalogo_imagenes/grupo.cmd?path=1083273" target="_blank" >https://www.fundacionmapfre.org/documentacion/publico/i18n/catalogo_imagenes/grupo.cmd?path=1083273</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Behavioral Equilibrium Exchange Rates: Re-Estimation for the Euro Area Countries

Popis výsledku v původním jazyce

This paper focuses on estimating the long-run determinants of the real effective exchange rates for the euro area countries towards the rest of the euro area over the period 1999-2014. Our approach is based on the Behavioral Equilibrium Exchange Rate (BEER) concept, which uses cointegration to determine the long-run fundamentals of real exchange rates. Terms of trade, relative productivity differential between tradable and non-tradable sector and net foreigner assets are widely used as the main factorsaffecting the intra-euro-area real effective exchange rates. In contrast to the main body of empirical literature our estimates indicate a negative, albeit weak, relationship between net foreigner assets and intra-euro-area real effective exchange rates.Possible explanation for this phenomenon might be the accumulation of economic imbalances across the euro area during the period analyzed.

Název v anglickém jazyce

Behavioral Equilibrium Exchange Rates: Re-Estimation for the Euro Area Countries

Popis výsledku anglicky

This paper focuses on estimating the long-run determinants of the real effective exchange rates for the euro area countries towards the rest of the euro area over the period 1999-2014. Our approach is based on the Behavioral Equilibrium Exchange Rate (BEER) concept, which uses cointegration to determine the long-run fundamentals of real exchange rates. Terms of trade, relative productivity differential between tradable and non-tradable sector and net foreigner assets are widely used as the main factorsaffecting the intra-euro-area real effective exchange rates. In contrast to the main body of empirical literature our estimates indicate a negative, albeit weak, relationship between net foreigner assets and intra-euro-area real effective exchange rates.Possible explanation for this phenomenon might be the accumulation of economic imbalances across the euro area during the period analyzed.

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

2015

Kód důvěrnosti údajů

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

Název statě ve sborníku

Current Topics on Risk Analysis: ICRA6 and RISK 2015 Conference

ISBN

978-84-9844-496-4

ISSN

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e-ISSN

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Počet stran výsledku

8

Strana od-do

647-654

Název nakladatele

Fundación Mapfre

Místo vydání

Madrid

Místo konání akce

Barcelona

Datum konání akce

26. 5. 2015

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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