European Parliament Library

In Search of Equilibrium :, Estimating Equilibrium Real Exchange Rates in Sub-Saharan African Countries, Joannes Mongardini, Alexander Chudik

This paper presents a methodology to estimate equilibrium real exchange rates (ERER) for Sub-Saharan African (SSA) countries using both single-country and panel estimation techniques. The limited data set hinders single-country estimation for most countries in the sample, but panel estimates are statistically and economically significant, and generally robust to different estimation techniques. The results replicate well the historical experience for a number of countries in the sample. Panel techniques can also be used to derive out of sample estimates for countries with a more limited data set
Table Of Contents
Contents; I. Introduction; II. Theoretical Background on Determinants of the ERER in Low-Income Countries; III. Empirical Applications to Low-Income Countries; Boxes; 1. ERER Determinants for Developing Countries; IV. Data Issues and Econometric Methodology; V. Estimation Results: Single-Country Approach; 2. Econometric Methodology for Single-Country Estimations; Tables; 1. Single-Country Estimations: Model Selection; Figures; 1. Exchange Rate Misalignments for Ethiopia; VI. Estimation Results: Panel Evidence; 3. Econometric Methodology for Panel Estimation
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (41 p.)
Specific Material Designation
Form Of Item

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