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dc.contributor.authorMacDonald, Ronalden_US
dc.date.accessioned2009-01-28T15:59:13Z-
dc.date.available2009-01-28T15:59:13Z-
dc.date.issued2000en_US
dc.identifier.urihttp://hdl.handle.net/10419/19531-
dc.description.abstractIn this paper we present a critical overview of differnt methods of constructing an equilibrium exchange rate. The recent literature on purchasing power parity (PPP) indicates that on its own PPP is not a good vehicle for defining an equilibrium exchange rate. Rather, we argue that the latter can only be recover from a model in which the real determinants of exchange rates are explicitly modelled. The advantages and disadvantages of various such models are discussed. In particular, the internal-external balance approach to defining an equilibrium real exchange rate is disccused, and this method is compared to the so-called behavioural equilibrium approach. Finally, an approach which uses purely time series methods to construct an equilibrium exchange rate is also discussed.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2000,03en_US
dc.subject.jelF31en_US
dc.subject.ddc330en_US
dc.subject.keywordEquilibrium Exchange Ratesen_US
dc.subject.keywordPurchasing Power Parityen_US
dc.subject.keywordReal Exchange Rate Modelsen_US
dc.subject.stwWechselkurstheorieen_US
dc.subject.stwGleichgewichten_US
dc.subject.stwKaufkraftparitäten_US
dc.subject.stwÖkonometrisches Modellen_US
dc.subject.stwTheorieen_US
dc.titleConcepts to Calculate Equilibrium Exchange Rates: An Overviewen_US
dc.typeWorking Paperen_US
dc.identifier.ppn318219956en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:4139-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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