Fatma Marrakchi Charfi (Facult 0064es Sciences Economiques et de Gestion de Tunis. Universit 0064e Tunis El Manar)
Abstract
Tunisia has experienced a performance when pursuing a constant real exchange rate rule. The limitations of this rule are beginning to emerge in the context of a more open economy, which desire to relax capital controls. This paper estimates the equilibrium real exchange rate of the dinar vis 0076is the euro and the $US from 1983 to 2000, using quarterly data, based on the following fundamental variables: terms of trade, net capital inflows and the differential of productivity. Results show that Tunisian dinar was overvalued before the 1986 devaluation, becomes close to its equilibrium value over the 90s. In the beginning of this century (2000), authorities permit a larger fluctuation of the real effective exchange rate.
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Publisher Info
Paper provided by Faculty of economics, Department of Economics in its series Working Papers with number
200842.
Length: 25 pages Date of creation: Jun 2008 Date of revision:
Dec 2008 Publication status: Published in Panoeconomicus, December 2008, pages 439-464 Handle: RePEc:voj:wpaper:200842
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