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Exchange Rate Regime Considerations for Jordan and Lebanon

Author

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  • Rina Bhattacharya

Abstract

This paper addresses the issue of the appropriate exchange rate regimes for Jordan and Lebanon in the context of the literature on optimum currency areas and the arguments concerning the use of the exchange rate as a nominal anchor for the economy. It presents some empirical results on the nature of output shocks in Jordan and Lebanon in the recent past, on the price sensitivity of exports from Jordan, and on currency and asset substitution in both countries. It does not directly address the issue of whether the current exchange rate in either country is overvalued or not, nor does it discuss the issue of an appropriate exit strategy from the current peg.

Suggested Citation

  • Rina Bhattacharya, 2003. "Exchange Rate Regime Considerations for Jordan and Lebanon," IMF Working Papers 03/137, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:03/137
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    Cited by:

    1. Shotar, M.M. & El-Mefleh, M.A., 2009. "Economic Exposure To Exchange Rates In Jordan Companies: A Monthly Econometric Model Of The Rate Of Return Of Firms, 2004-2007," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 9(1).
    2. Dibeh, Ghassan, 2005. "The Political Economy of Postwar Reconstruction in Lebanon," WIDER Working Paper Series 044, World Institute for Development Economic Research (UNU-WIDER).
    3. Magda E. Kandil & S. Beidas, 2005. "Setting the Stage for a National Currency in the West Bank and Gaza; The Choice of Exchange Rate Regime," IMF Working Papers 05/70, International Monetary Fund.

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