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Real exchange rate misalignments in CEECs: Have they hindered growth?
dc.contributor.author | Cuestas, Juan Carlos | |
dc.contributor.author | Mourelle, Estefanía | |
dc.contributor.author | Regis, Paulo José | |
dc.date.accessioned | 2024-03-04T12:04:55Z | |
dc.date.available | 2024-03-04T12:04:55Z | |
dc.date.issued | 2020 | |
dc.identifier.citation | Cuestas, 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/s10663-019-09454-5 | es_ES |
dc.identifier.issn | 0340-8744 | |
dc.identifier.uri | http://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.sponsorship | Juan 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.sponsorship | info: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.sponsorship | info: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.iso | eng | es_ES |
dc.publisher | Springer | es_ES |
dc.relation.uri | https://doi.org/10.1007/s10663-019-09454-5 | es_ES |
dc.subject | Real exchange rate misalignments | es_ES |
dc.subject | Growth | es_ES |
dc.subject | Central and Eastern European countries | es_ES |
dc.subject | Panel smooth transition regression | es_ES |
dc.title | Real exchange rate misalignments in CEECs: Have they hindered growth? | es_ES |
dc.type | info:eu-repo/semantics/article | es_ES |
dc.rights.access | info:eu-repo/semantics/openAccess | es_ES |
UDC.journalTitle | Empirica. Journal of European Economics | es_ES |
UDC.volume | 47 | es_ES |
UDC.issue | 4 | es_ES |
dc.identifier.doi | 10.1007/s10663-019-09454-5 |
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