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The Equilibrium Value of The Euro/$ US Exchange Rate: An Evaluation of Research

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  • Stein L.
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    Abstract

    The ultimate object of research concerning the Euro is to answer the following questions: (#1) What is the equilibrium trajectory of the nominal euro, measured as dollars/euro? (#2) To what extent has the equilibrium nominal euro been determined by relative prices (PPP), and to what extent has it been determined by real fundamentals? (#3) How important have been the transitory factors in affecting the value of the euro? (#4) Is the euro currently undervalued, and by what criteria? Our evaluation of recent research concerning the answers to these questions, is the subject of this paper.

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    File URL: http://www.ersj.eu/repec/ers/papers/01_12_p5.pdf
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    Bibliographic Info

    Article provided by European Research Studies Journal in its journal European Research Studies Journal.

    Volume (Year): IV (2001)
    Issue (Month): 1-2 (January - June)
    Pages: 73-108

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    Handle: RePEc:ers:journl:v:iv:y:2001:i:1-2:p:73-108

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    Web page: http://www.ersj.eu/

    Related research

    Keywords: Euro; NATREX; BEER; equilibrium exchange rates; international capital flows; misalignment.;

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Issing, Otmar, 2000. "How to Promote Growth in the Euro Area: The Contribution of Monetary Policy," International Finance, Wiley Blackwell, vol. 3(2), pages 309-27, July.
    2. Gandolfo, Giancarlo & Goldberg, Michael D., 2005. "International Finance And Open-Economy Macroeconomics," Macroeconomic Dynamics, Cambridge University Press, vol. 9(02), pages 263-266, April.
    3. Carsten Detken & Alistair Dieppe & Jér�me Henry & Frank Smets & Carmen Marin, 2002. "Determinants of the Effective Real Exchange Rate of the Synthetic Euro: Alternative Methodological Approaches," Australian Economic Papers, Wiley Blackwell, vol. 41(4), pages 404-436, December.
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    Cited by:
    1. Jorge Pérez-Rodríguez, 2006. "The Euro and Other Major Currencies Floating Against the U.S. Dollar," Atlantic Economic Journal, International Atlantic Economic Society, vol. 34(4), pages 367-384, December.
    2. Daniela Federici & Giancarlo Gandolfo, 2011. "The Euro/Dollar Exchange Rate: Chaotic or Non-Chaotic?," CESifo Working Paper Series 3420, CESifo Group Munich.

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