Armenia: An Assessment of the Real Exchange Rate and Competitiveness
IMF Working Papers, January 1, 2011
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- Armenia: An Assessment of the Real Exchange Rate and Competitiveness
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Bibliographic details
- Authors: Anke Weber, Chunfang Yang
- Published: January 1, 2011
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781455211951.001
Summary
- Paper uses a range of different methodologies to estimate the equilibrium real exchange rate in Armenia with both single-country and panel estimation techniques.
- Analysis focuses on Armenia but methods are applicable to a large number of transition economies.
- Paper provides an overview of methods that can be used to assess a country’s equilibrium exchange rate.
Authors and Publication
- By Miss Anke Weber, Chunfang Yang
- January 1, 2011
- Series: Working Paper No. 2011/020
- Issue: 020
- Volume: 2011
- Pages: 39
- DOI: https://doi.org/10.5089/9781455211951.001
- ISBN: 9781455211951
- ISSN: 1018-5941
- Stock No: WPIEA2011020
Methodologies Employed
- Country-specific autoregressive distributed lag (ARDL) model estimation.
- Cointegrated panel estimation consisting of transition economies in Europe and Central Asia.
- Addresses cross section dependence by using common correlated effects (CCE) estimators.
- Combination of single-country and panel estimation techniques to provide robustness and broader applicability.
Thematic Scope and Subjects
- Subject: Balance of payments, Competition, Current account, Exchange rates, Financial markets, Foreign exchange, Real effective exchange rates, Real exchange rates
- Keywords: CA norm, CCE estimation methodology, Competition, competitiveness, Current account, Equilibrium exchange rate, estimation result, exchange rate, exchange rate appreciation, exchange rate misalignment, Exchange rates, Global, panel estimation, panel estimations, price index, Real effective exchange rates, Real exchange rates, WP
Purpose and Applicability
- Purpose: Estimate equilibrium real exchange rate for Armenia and illustrate methodologies for assessing equilibrium exchange rates.
- Applicability: Methods demonstrated are applicable to many transition economies beyond Armenia.
Content derived from "Armenia: An Assessment of the Real Exchange Rate and Competitiveness", IMF Working Papers 2011, 020 (2011).