Real Exchange Rates and Exchange Rate Policy in Hungary
AbstractFive real exchange rate indicators are computed to assess the international competitiveness of Hungarian industry. These indicators are explained in econometric equations by employment, unemployment, productivity, interest spread and real producer wage. Causality tests reveal that external performance has an impact on real exchange rates and contributes to the explanation of real exchange rates. There is very limited scope for policy intervention to constrain the negative effects of capital inflow without incurring other costs.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1366.
Date of creation: Mar 1996
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Other versions of this item:
- László Halpern, 1996. "Real exchange rate and exchange rate policy in Hungary," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 4(1), pages 211-228, 05.
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
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- Frait , Jan & Komárek, Luboš, 2001. "REAL Exchange rate trends in transitional countries," The Warwick Economics Research Paper Series (TWERPS) 596, University of Warwick, Department of Economics.
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