Estimating Iceland's Real Equilibrium Exchange Rate
AbstractGiven recent developments in Iceland, this paper evaluates its real exchange rate disequilibrium. It discusses three approaches to estimating the equilibrium values and suggests that the adjustment needed to bring the real exchange rate in line with fundamentals is in the range of 15-25 percent, although timing and manner of this adjustment is unclear.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 07/276.
Date of creation: 01 Dec 2007
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-01-05 (All new papers)
- NEP-CBA-2008-01-05 (Central Banking)
- NEP-EEC-2008-01-05 (European Economics)
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- Ásgeir Daníelsson, 2009. "QMM. A steady state version," Economics, Department of Economics, Central bank of Iceland wp44, Department of Economics, Central bank of Iceland.
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