The Equilibrium Value of the Euro/$ US Exchange Rate: An Evaluation of Research
AbstractThe 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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Bibliographic InfoPaper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 525.
Date of creation: 2001
Date of revision:
Euro; NATREX; BEER; equilibrium exchange rates; international capital flows; misalignment;
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