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2 edition of equilibrium real exchange rate in a commodity exporting country found in the catalog.

equilibrium real exchange rate in a commodity exporting country

Nikola Spatafora

equilibrium real exchange rate in a commodity exporting country

the case of Russia

by Nikola Spatafora

  • 350 Want to read
  • 16 Currently reading

Published by International Monetary Fund, Europeam II Department in [Washington, D.C.] .
Written in English

    Subjects:
  • Foreign exchange rates -- Russia (Federation),
  • Primary commodities -- Russia (Federation),
  • Commercial products -- Russia (Federation),
  • Exports -- Russia (Federation)

  • Edition Notes

    StatementNikola Spatafora and Emil Stavrev.
    SeriesIMF working paper -- WP/03/93
    ContributionsStavrev, Emil., International Monetary Fund. European II Dept.
    The Physical Object
    Pagination21 p. :
    Number of Pages21
    ID Numbers
    Open LibraryOL21475306M

    Real exchange rates and primary commodity prices. Joao Ayres (), Constantino Hevia and Juan Pablo Nicolini. Journal of International Economics, , vol. , issue C. Abstract: In this paper, we show that there is substantial comovement between prices of primary commodities such as oil, aluminum, maize, or copper and real exchange rates between developed .   Koranchelian, T, The Equilibrium Real Exchange Rate in a Commodity Exporting Country: Algeria’s Experience, IMF Working Paper, 05/, Washington, USA, , In article View Article [15] Madouni, M.. “Real Exchange Rate Misalignment in Algeria”, International Journal of Arts and Commerce, 3(5), , Author: Samir Ait Yahia, Tarek Djeddi, Tayeb Louafi.

    In particular, countries with “Commodity Currencies” have been given more attentions, and evidences have been found that there exists a long-run relationship between the real exchange rate and the real commodity price for commodity-exporting countries 1 [7], including Australia, Canada, Chile, New Zealand 2, and South Africa. Similar Cited by: 2. Suppose N countries, j=1,,N potentially trade the commodity. Each country’s real net demand, written Qj, is the difference between consumption and production. Thus, Qj >0 if j is a net demander/importer and Qj country j’s exchange rate in LCU/$ beE j and its domestic price level in LCU be P j. Then.

    This paper tests the hypothesis of 'commodity currency' on the nuevo sol and, more generally, identifies the drivers of Peru's equilibrium real exchange rate using a cointegration analysis. The results show that export commodity prices do not have a statistically significant impact on Peru's real effective exchange rate, suggesting that the. A $ increase in government purchases will have exactly the same effect on equilibrium real GDP as a $ decrease in autonomous net taxes regardless of the value of the MPC. An exchange rate is the price of one commodity (e.g., corn) measured in terms of another commodity (e.g., wheat). A country should export only those goods for.


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Equilibrium real exchange rate in a commodity exporting country by Nikola Spatafora Download PDF EPUB FB2

The Equilibrium Real Exchange Rate in a Commodity Exporting Country: Algeria's Experience Prepared by Taline Koranchelian1 Authorized for distribution by Erik De Vrijer July Abstract This Working Paper should not be reported as representing the views of the IMF. The half-life of the deviation of the real exchange rate from the estimated equilibrium level is about nine months, similar to that in other commodity-exporting countries.

The general conclusions are that: (i) there is a time-varying long-run equilibrium exchange rate in Algeria as in other commodity-exporting countries. Spatafora, Nikola and Stavrev, Emil, The Equilibrium Real Exchange Rate in a Commodity Exporting Country: The Case of Russia (May ).

IMF Working Paper, Vol., Cited by: The Equilibrium Real Exchange Rate in a Commodity Exporting Country: Algeria's Experience. The Equilibrium Real Exchange Rate in a Commodity Exporting Country; Algeria’s Experience.

Taline Koranchelian. No 05/, IMF Working Papers from International Monetary Fund Abstract: Drawing on the existing literature, I estimate a long-run equilibrium real exchange rate path for Algeria. I find that the Balassa-Samuelson effect together with real oil Cited by: The general conclusions are that: (i) there is a time-varying long-run equilibrium exchange rate in Algeria as in other commodity-exporting countries; and (ii) the real effective exchange rate of the Algerian dinar at end was broadly in line with this equilibrium.

Koranchelian, T, The Equilibrium Real Exchange Rate in a Commodity Exporting Country: Algeria’s Experience, IMF Working Paper, 05/, Washington, USA,has been cited by the following article. The Equilibrium Real Exchange Rate in a Commodity Exporting Country: The Case of Russia.

Electronic Access: Free Full Text. Disclaimer: This Working Paper should not be reported as representing the views of the views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.

Downloadable. Questions about external competitiveness, exchange rate misalignment, and the appropriate exchange rate policy feature prominently in the Russian policy debate.

This paper furthers the debate by estimating empirically Russia's equilibrium real exchange rate (ERER)-that is, the rate consistent with the long-run economic fundamentals-and sheds light on the extent to which exchange.

The general conclusions are that: (i) there is a time-varying long-run equilibrium exchange rate in Algeria as in other commodity-exporting countries; and (ii) the real effective exchange rate of the Algerian dinar at end was broadly in line with this ge rates;exchange rate, real exchange rate, real effective exchange Author: Taline Koranchelian.

For commodity currencies, the average half-life of adjustment of the real exchange rate to its equilibrium with real commodity prices is about 10 months, which is much shorter-lived than Rogoff's () consensus estimate of the half-life of real exchange rate deviations from purchasing power parity of between 3 and 5 by: The equilibrium real exchange rate in a commodity exporting country: the case of Russia.

The Equilibrium Real Exchange Rate in a Commodity Exporting Country: The Case of Russia Article (PDF Available) June with 69 Reads How we measure 'reads'.

That is, the equilibrium real exchange rate is determined by the terms of trade, given the elasticities of demand and supply for importables and exportables and the share of nontraded goods in the economy.

7 If the terms of trade strengthen, the equilibrium value of the real exchange rate must appreciate (competitiveness s = e − p n falls.

This paper investigates the relationship between energy prices and the real effective exchange rate of commodity-exporting countries. We consider two sets of countries: 10 energy-exporting and 23 commodity-exporting countries over the period –Cited by: CEPII Working Paper Energy prices and the real exchange rate of commodity-exporting countries Regarding the link between energy prices and real exchange rates, research has essentially been focusing on two topics: the impact of oil.

an appreciation of the real exchange rate. Empirically, the relationship between the terms of trade and the real exchange rate has been tested and proven in a number of non-energy commodity exporters.

Amano and van Norden () find that – as expected - the non-energy ECB Working Paper Series No December   We assess the determinants of equilibrium real exchange rates in a sample of oil-dependent countries.

Our data cover OPEC countries from to Utilising pooled mean group and mean group estimators, we find that the price of oil has a clear, statistically significant effect on real exchange rates in our group of oil-producing by: The general conclusions are that: (i) there is a time-varying long-run equilibrium exchange rate in Algeria as in other commodity-exporting countries; and (ii) the real effective exchange rate.

prices and the real e ective exchange rate of 58 commodity-exporting countries and found evidence of such a relationship for about one-third of their sample of countries.

Coudert et al. () report similar evidence for a large group of commodity exporting countries, including oil File Size: KB. Get this from a library!

The equilibrium real exchange rate in a commodity exporting country: Algeria's experience. [Taline Koranchelian] -- Drawing on the existing literature, I estimate a long-run equilibrium real exchange rate path for Algeria. I find that the Balassa-Samuelson effect together with real oil prices explain the long-run.Sources of Shifts in the Equilibrium Real Exchange Rate There is universal agreement on the principle that real events can change equilibrium real exchange rates, which are after all relative prices like any others.

The sources of dispute Cited by: Get this from a library! The equilibrium real exchange rate in a commodity exporting country: the case of Russia. [Nikola Spatafora; Emil Stavrev; International Monetary Fund. European II Department.] -- Questions about external competitiveness, exchange rate misalignment, and the appropriate exchange rate policy feature prominently in the Russian policy debate.