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dc.contributor.authorBogoev, Janeen
dc.contributor.authorBojceva Terzijan, Sultanijaen
dc.contributor.authorÉgert, Balázsen
dc.contributor.authorPetrovska, Magdalenaen
dc.date.accessioned2009-01-28T15:06:15Z-
dc.date.available2009-01-28T15:06:15Z-
dc.date.issued2008-
dc.identifier.citation|aEconomics: The Open-Access, Open-Assessment E-Journal|c1864-6042|v2|h2008-18|nKiel Institute for the World Economy (IfW)|lKiel|y2008|p1-19en
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2008-18en
dc.identifier.urihttp://hdl.handle.net/10419/18031-
dc.description.abstractThe ambition of this paper is to analyse real exchange rate dynamics in Macedonia relying on a highly disaggregated dataset. We complement the indirect evidence reported in Loko and Tuladhar (2005) and we provide direct evidence on the irrelevance of the Balassa-Samuelson effect for overall inflation via service prices in the CPI. Furthermore, we estimate variants of the BEER model. We show that alternative econometric techniques and data definitions bear an impact on the robustness of the estimation results. Overall, productivity, government consumption and the openness variables were found to be fairly robust in terms of sign and size. An increase/decrease in the productivity variables is associated with an appreciation/depreciation of the real effective exchange rate. Given that the B-S effect admittedly has a very limited role to play through nontradable prices in the CPI, this relationship could be explained by the (inverse) quality effect proposed by Loko and Tuladhar and, possibly in addition to that, by the nontradable component of tradable prices.en
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.subject.jelE31en
dc.subject.jelF31en
dc.subject.jelO11en
dc.subject.jelP17en
dc.subject.ddc330en
dc.subject.keywordReal exchange rateen
dc.subject.keywordBalassa-Samuelsonen
dc.subject.keywordMacedoniaen
dc.subject.stwKaufkraftparitäten
dc.subject.stwProduktivitäten
dc.subject.stwBalassa-Samuelson Effekten
dc.subject.stwMazedonienen
dc.titleReal Exchange Rate Dynamics in Macedonia: Old Wisdoms and New Insights-
dc.typeArticleen
dc.identifier.ppn569784883en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifweej:7331en
econstor.citation.journaltitleEconomics: The Open-Access, Open-Assessment E-Journalen
econstor.citation.issn1864-6042en
econstor.citation.volume2en
econstor.citation.issue2008-18en
econstor.citation.publisherKiel Institute for the World Economy (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year2008en
econstor.citation.startpage1en
econstor.citation.endpage19en

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