EconStor >
ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/26613
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorBeza-Bojanowska, Joannaen_US
dc.contributor.authorMacDonald, Ronalden_US
dc.date.accessioned2009-03-17en_US
dc.date.accessioned2009-07-28T08:48:57Z-
dc.date.available2009-07-28T08:48:57Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/26613-
dc.description.abstractPoland is obligated to adopt the euro after the fulfilment, inter alia, of the exchange rate criterion which requires entering the Exchange Rate Mechanism II (ERM II). The European Central Bank recommends that the ERM II central rate should reflect the best possible assessment of the equilibrium exchange rate. In this paper we use the BEER and PEER approach to estimate real Polish zloty/euro equilibrium rate. Although the main goal of our analysis is to compute measures of current and total misalignment, we also check the sensitivity of the equilibrium exchange rate estimates to our choice of the risk premium proxy as well as to our approach for computing the total misalignment. We demonstrate that the BEER/PEER estimates of the PLN/EUR rate are statistically robust and that this approach may be useful for setting the central parity rate at which the zloty enters ERM II.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2568en_US
dc.subject.jelF31en_US
dc.subject.jelF32en_US
dc.subject.ddc330en_US
dc.subject.keywordEquilibrium exchange rateen_US
dc.subject.keywordBEERen_US
dc.subject.keywordPEERen_US
dc.subject.keywordcointegration analysisen_US
dc.subject.keywordGonzalo-Granger decompositionen_US
dc.subject.keywordERM IIen_US
dc.subject.stwWechselkursen_US
dc.subject.stwGleichgewichten_US
dc.subject.stwKaufkraftparitäten_US
dc.subject.stwRationale Erwartungen_US
dc.subject.stwEuropäischer Währungsverbunden_US
dc.subject.stwSchätzungen_US
dc.subject.stwEuroen_US
dc.subject.stwPolenen_US
dc.subject.stwEU-Staatenen_US
dc.titleThe behavioural zloty/euro equilibrium exchange rateen_US
dc.typeWorking Paperen_US
dc.identifier.ppn593924134en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

Files in This Item:
File Description SizeFormat
593924134.PDF402.87 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.