Hidden Bibliographic Details
| Other authors / contributors: | Milesi-Ferretti, Gian Maria, author.
Lee, Jaewoo, author.
International Monetary Fund. Research Department.
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| ISBN: | 1283513617
9781283513616
1451913281
9781451913286
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| Notes: | Includes bibliographical references (pages 13-16).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms of trade to estimate a panel cointegrating relationship between real exchange rates and a set of fundamentals for a sample of 48 industrial countries and emerging markets. It finds evidence of a strong positive relation between the CPI-based real exchange rate and commodity terms of trade. The estimated impact of productivity growth differentials between traded and nontraded goods, while statistically significant, is small. Increases in net foreign assets and in government consumption tend to be associated with appreciating real exchange rates.
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| Other form: | Print version: Ricci, Luca Antonio. Real exchange rates and fundamentals. Washington, D.C. : International Monetary Fund, Research Dept., ©2008
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| Standard no.: | 10.5089/9781451913286.001
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