IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpol/v1999y1999i1id2.html
   My bibliography  Save this article

Dluhově přizpůsobený reálný devizový kurz české koruny
[Debt adjusted real exchange rate of the czech currency]

Author

Listed:
  • Jan Frait
  • Luboš Komárek

Abstract

The paper aims at enriching current discussions about the equilibrium exchange rate level for the Czech currency, and generally for transition economies. The main idea of the paper is to introduce one of the newly emerged conceptions of real exchange rate which can indicate potential overvaluation or undervaluation of the exchange rate. The conception which is called DARER (Debt Adjusted Real Exchange Rate) takes into account the effects of current account deficits and of foreign debt on the equilibrium price level and thus real exchange rate. The importance of this particular conception is given by the fact many of the transitional countries finance their long-term deficits on current account by capital inflows which sometimes contributes to the exchange rate misalignments. DARER can send warning singals indicating that the current level of the real exchange rate can be no longer sustained.

Suggested Citation

  • Jan Frait & Luboš Komárek, 1999. "Dluhově přizpůsobený reálný devizový kurz české koruny [Debt adjusted real exchange rate of the czech currency]," Politická ekonomie, Prague University of Economics and Business, vol. 1999(1).
    • Handle: RePEc:prg:jnlpol:v:1999:y:1999:i:1:id:2
    DOI: 10.18267/j.polek.2
    as

    Download full text from publisher

    File URL: http://polek.vse.cz/doi/10.18267/j.polek.2.html
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.polek.2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:1999:y:1999:i:1:id:2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.