Equilibrium exchange rate and competitiveness within the euro area
TShifts in exchange rates may indicate macro-economic imbalances. However, estimating equilibrium exchange rates is problematical and several different approaches are described in the economic literature. The application of these methods to euro area countries as of 2000 shows that analysis of this indicator remains a highly useful exercise within a monetary union.
Volume (Year): (2012-13)
Issue (Month): 28 (Winter)
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- Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
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