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2003 | nr 11-12 | 4--14
Tytuł artykułu

Szacunki realnego kursu równowagi długookresowej dla Polski

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Warianty tytułu
Języki publikacji
PL
Abstrakty
Przedstawiono szacunki realnego kursu równowagi na podstawie danych miesięcznych i kwartalnych z okresu I kwartał 1993 r. – I kwartał 2003 r. oraz w następujących podokresach: 1993-1998 i 1999 - I kwartał 2003. Podokresy wybrano biorąc pod uwagę zmiany w polityce kursowej, a od 1999 r. w polityce pieniężnej NBP. Szacunki przeprowadzono metodą parytetu siły nabywczej i w oparciu o opracowane przez ekspertów Międzynarodowego Funduszu Walutowego tzw. podejście macroeconomic balance (model równowagi bilansu obrotów bieżących).
Czasopismo
Rocznik
Numer
Strony
4--14
Opis fizyczny
Twórcy
Bibliografia
  • 1. J. Baffes, I.A. Elbadawi, S.A. O’Connell: Single-Equation Estimation of the Equilibrium Real Exchange Rate. W: L.E. Hinkle, P.J. Montiel (red.): Exchange Rate Misalignment. Oxford University Press, New York, 1999, rozdział 10.
  • 2. T. Bayoumi, H. Faruqee: A Calibrated Model of the Underlying Current Account. W: P. Isard, H. Faruqee: Exchange Rate Assessment: Extensions of the Macroeconomic Balance Approach. Occasional Paper 167, IMF, Washington D.C. 1998, rozdział 5.
  • 3. N. Baxter: Real exchange rates and real interest differentials. "Journal of Monetary Economics" Vol. 33, 1994, s. 5-37.
  • 4. D. Borowski, C. Couharde: The exchange rate macroeconomic balance approach: New methodology and results for the euro, the dollar, the yen and the pound sterling. Universite Paris Nord, France, 2003.
  • 5. A.-M. Brook, D. Hargreaves: A Macroeconomic Balance Measure of New Zealand’s Equilibrium Exchange Rate. Discussion Paper Series 9/2000, Reserve Bank of New Zealand, December 2000.
  • 6. P.B. Clark, R. Macdonald: Exchange Rates and Economic Fundamentals: A Methodological Comparison of BEERs and FEERs. W: R. MacDonald, J.L. Stein: Equilibrium Exchange Rates. Kluwer Academic Publishers, Boston/Dordrecht/London, 1999.
  • 7. G.E. Chortareas, R.L. Driver: PPP and the real exchange rate-real interest rate differential puzzle revisited: evidence from non-stationary panel data. Bank of England Working Paper no. 138, June 2001.
  • 8. G. Debelle, H. Faruqee: What Determines the Current Account? A Cross-Sectional and Panel Approach. IMF Working Paper No. WP/95/58, IMF, Washington 1996.
  • 9. S. Devarajan, J.D. Lewis, S. Robinson: External Shocks, Purchasing Power Parity, and the Equilibrium Real Exchange Rate. "World Bank Economic Review" Vol. 7, January 1993, s. 45-64.
  • 10. R. Dornbusch: Expectations and exchange rate dynamics. "Journal of Political Economy" Vol. 96, 1976, s. 246-273.
  • 11. R. Driver, S. Wren-Lewis: FEERs: a sensitivity analysis. W: R. MacDonald, J.L. Stein: Equilibrium Exchange Rates. Kluwer Academic Publishers, Boston/Dordrecht/London, 1999.
  • 12. H.J. Edison, B.D. Pauls: A re-assessment of the relationship between real exchange rates and real interest rates: 1974-1990. "Journal of Monetary Economics" Vol. 31, 1993, s.165-187.
  • 13. S. Edwards: Real and Monetary Determinants of Real Exchange Rate Behavior: Theory and Evidence from Developing Countries. W: J. Williamson (red.): Estimating Equilibrium Exchange Rates. Institute for International Economics, Washington, 1994.
  • 14. I.A. Elbadawi: Estimating Long-Run Equilibrium Real Exchange Rates. W: J. Williamson (red.): Estimating Equilibrium Exchange Rates. Institute for International Economics, Washington, 1994.
  • 15. W. Enders: Applied Econometric Time Series. New York 1995 John Wiley & Sons.
  • 16. H. Faruqee, G. Debelle: Saving-Investment Balances in Industrial Countries: An Empirical Investigation. W: P. Isard, H. Faruqee: Exchange Rate Assessment: Extensions of the Macroeconomic Balance Approach. Occasional Paper 167, IMF, Washington D.C. 1998.
  • 17. T. Feyzioglu: Estimating the Equilibrium Real Exchange Rate: An Application to Finland. IMF Working Paper WP 97/109, IMF, 1997.
  • 18. W.H. Greene: Econometric Analysis. New Jersey 2000 Prentice Hall International Inc., Upper Saddle River.
  • 19. L.E. Hinkle, P.J. Montiel (red.): Exchange Rate Misalignment – Concepts and Measurement for Developing Countries. World Bank, Oxford University Press 1999.
  • 20. L.E. Hinkle, F. Nsengiyumva: External Real Exchange Rates: Purchasing Power Parity, the Mundell-Fleming Model and Competitiveness in Traded Goods. W: L.E. Hinkle, P.J. Montiel (red.): Exchange Rate Misalignment. Oxford University Press, New York, 1999, rozdział 2.
  • 21. L.E. Hinkle, F. Nsengiyumva: The Two-Good Internal RER for Tradables and Nontradables. W: L.E. Hinkle, P.J. Montiel (red.): Exchange Rate Misalignment. Oxford University Press, New York, 1999, rozdział 3.
  • 22. P. Isard, H. Faruqee: Exchange Rate Assessment: Extensions of the Macroeconomic Balance Approach. Occasional Paper 167, IMF, Washington D.C. 1998.
  • 23. Q. Kong: Predictable Movements in Yen/DM Exchange Rates. IMF Working Paper no. WP/00/143, August 2000.
  • 24. R. MacDonald: What do we really know about real exchange rates? W: R. MacDonald, J.L. Stein: Equilibrium Exchange Rates. Kluwer Academic Publishers, Boston/Dordrecht/London, 1999.
  • 25. R. MacDonald: What Determines Real Exchange Rates: The Long and Short of It. W: R. MacDonald, J.L. Stein: Equilibrium Exchange Rates. Kluwer Academic Publishers, Boston/Dordrecht/London, 1999.
  • 26. R.A. Meese, K. Rogoff: Was it real? The exchange rate – interest rate relation, 1973-1984. "Journal of Finance" Vol. 43, 1988, s. 933-948.
  • 27. Methodology for Current Account and Exchange Rate Assessments. IMF, Washington 2001.
  • 28. J. Mongardini: Estimating Egypt’s Equilibrium Exchange Rate. IMF Working Paper WP/98/5, IMF, 1998.
  • 29. P.J. Montiel: The Long-Run Equilibrium Real Exchange Rate: Conceptual Issues and Empirical Research. W: L.E. Hinkle, P.J. Montiel (red.): Exchange Rate Misalignment, Oxford University Press, New York, 1999.
  • 30. L.H. Officer: The Purchasing Power Parity Theory of exchange Rates: A Review Article. "Staff Papers" Vol. 23, March 1976, s. 1-60.
  • 31. C. Paiva: Competitiveness and the Equilibrium Exchange Rate in Costa Rica. IMF Working Paper WP/01/23, IMF, 2001.
  • 32. K. Rogoff: The Purchasing Power Parity Puzzle. "The Journal of Economic Literature" Vol. 34, 1996, s. 647-668.
  • 33. J.L. Stein: The evolution of the real value of the US Dollar relative to the G7 currencies. W: R. MacDonald, J.L. Stein: Equilibrium Exchange Rates. Kluwer Academic Publishers, Boston/Dordrecht/London, 1999.
  • 34. J.L. Stein: The Natural Real Exchange Rate of the United States Dollar and Determinants of Capital Flows. W: J. Williamson (red.): Estimating Equilibrium Exchange Rates. Institute for International Economics, Washington, 1994.
  • 35. J.L. Stein, P.R. Allen: Fundamental Determinants of Exchange Rates. Oxford University Press, Oxford, 1995.
Typ dokumentu
Bibliografia
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Identyfikator YADDA
bwmeta1.element.ekon-element-000128087247

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