Koninklijke Bibliotheek, National Library of the NetherlandsIP1343505591092.1
6eec0d81962f2d174b26d76517baaab5
Savez ekonomista Vojvodine
Panoeconomicus
1452595X
2008
55
4
439
464
10.2298/PAN0804439C
eng
1452-595X0804439C
Real exchange of rate of balance and misalignments: Lesson from the model VAR-ECM in the case of Tunisia
Charfi Marrakchi Fatma
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 à vis 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. .
http://www.doiserbia.nb.rs/img/doi/1452-595X/2008/1452-595X0804439C.pdf
equilibrium real exchange rate
misalignment
cointegration
]]>
6eec0d81962f2d174b26d76517baaab5
Savez ekonomista Vojvodine
Panoeconomicus
1452595X
2008
55
4
439
464
10.2298/PAN0804439C
eng
1452-595X0804439C
Real exchange of rate of balance and misalignments: Lesson from the model VAR-ECM in the case of Tunisia
Charfi Marrakchi Fatma
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 à vis 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. .
http://www.doiserbia.nb.rs/img/doi/1452-595X/2008/1452-595X0804439C.pdf
equilibrium real exchange rate
misalignment
cointegration
1452595X-20110713-153546.zip6eec0d81962f2d174b26d76517baaab5.pdfPDF1.4
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