Estimating Equilibrium Exchange Rates

Estimating Equilibrium Exchange Rates

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This study re-examines Williamson's concept of the fundamental equilibrium exchange rate in the light of developments since its introduction in 1983 - in particular, the adoption of a system of target zones by the group of seven industrial countries in the Louvre Accord of 1987.Then we can provide quantitative answers to the questions posed in the introduction. ... We exhibit several different estimating equations based upon the basic dynamic system equation (18) relating the endogenous to the exogenous variablesanbsp;...

Title:Estimating Equilibrium Exchange Rates
Author:John Williamson
Publisher:Peterson Institute - 1994-01-01


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