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dc.contributor.authorCuestas, Juan Carlos
dc.contributor.authorMourelle, Estefanía
dc.contributor.authorRegis, Paulo José
dc.date.accessioned2024-03-04T12:04:55Z
dc.date.available2024-03-04T12:04:55Z
dc.date.issued2020
dc.identifier.citationCuestas, J. C.; Mourelle, E.; Regis, P. J. (2020). Real exchange rate misalignments in CEECs: Have they hindered growth? Empirica. Journal of European Economics, 47 (4), 733-756. DOI: https://doi.org/10.1007/s10663-019-09454-5es_ES
dc.identifier.issn0340-8744
dc.identifier.urihttp://hdl.handle.net/2183/35778
dc.description.abstract[Abstract]: We study the impact of exchange rate misalignment on economic activity in nine Central and Eastern European (CEE) economies. Exchange rate misalignments are computed from country-specific long-run exchange rate relationships with determinants suggested by open macroeconomic models such as interest rate differentials or the Balassa-Samuelson effect. There was a clear reduction in misalignments, but this has been reversed to some extent after 2008. Exchange rate overvaluation has a negative impact on economic activity. The effect of misalignments on economic activity seems to be nonlinear, as overvaluation has a stronger effect than undervaluation. Other factors of economic activity, including institutions, also show nonlinear effects.es_ES
dc.description.sponsorshipJuan Carlos Cuestas acknowledges the financial support from the ECO2017-85503-R and ECO2017-83255-C3-3-P projects from `Agencia Estatal de Investigación' (AEI) Spain and `Fondo Europeo de Desarrollo Regional' (FEDER).es_ES
dc.description.sponsorshipinfo:eu-repo/grantAgreement/AEI-FEDER/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/ ECO2017-85503-R/ES/es_ES
dc.description.sponsorshipinfo:eu-repo/grantAgreement/AEI-FEDER/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/ ECO2017-83255-C3-3-P/ES/es_ES
dc.language.isoenges_ES
dc.publisherSpringeres_ES
dc.relation.urihttps://doi.org/10.1007/s10663-019-09454-5es_ES
dc.subjectReal exchange rate misalignmentses_ES
dc.subjectGrowthes_ES
dc.subjectCentral and Eastern European countrieses_ES
dc.subjectPanel smooth transition regressiones_ES
dc.titleReal exchange rate misalignments in CEECs: Have they hindered growth?es_ES
dc.typeinfo:eu-repo/semantics/articlees_ES
dc.rights.accessinfo:eu-repo/semantics/openAccesses_ES
UDC.journalTitleEmpirica. Journal of European Economicses_ES
UDC.volume47es_ES
UDC.issue4es_ES
dc.identifier.doi10.1007/s10663-019-09454-5


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