Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/75865
Authors: 
Stein, Jerome L.
Year of Publication: 
2001
Series/Report no.: 
CESifo Working Paper 525
Abstract: 
The ultimate object of research concerning the Euro is to answer the following questions: (#1) What is the equilibrium trajectory of the nominal euro, measured as dollars/euro? (#2) To what extent has the equilibrium nominal euro been determined by relative prices (PPP), and to what extent has it been determined by real fundamentals? (#3) How important have been the transitory factors in affecting the value of the euro? (#4) Is the euro currently undervalued, and by what criteria? Our evaluation of recent research concerning the answers to these questions, is the subject of this paper.
Subjects: 
Euro
NATREX
BEER
equilibrium exchange rates
international capital flows
misalignment
Document Type: 
Working Paper

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