Equilibrium exchange rates in Central and Eastern Europe: A meta-regression analysis

Balázs Égert and László Halpern ()

No 4/2005, BOFIT Discussion Papers from Bank of Finland, Institute for Economies in Transition

Abstract: This paper analyses the ever-growing literature on equilibrium exchange rates in the new EU member states of Central and Eastern Europe in a quantitative manner using meta-regression analysis. The results indicate that the real misalignments reported in the literature are systematically influenced, inter alia, by the underlying theoretical concepts (Balassa-Samuelson effect, Behavioural Equilibrium Exchange Rate, Fundamental Equilibrium Exchange Rate) and by the econometric estimation methods. The important implication of these findings is that a systematic analysis is needed in terms of both alternative economic and econometric specifications to assess equilibrium exchange rates.

Keywords: equilibrium exchange rate; Balassa-Samuelson effect; meta-analysis (search for similar items in EconPapers)
JEL-codes: C15 E31 F31 O11 P17 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-fmk, nep-ifn, nep-mon and nep-tra
Date: 2005-06-29
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Related works:
Working Paper: Equilibrium Exchange Rates in Central and Eastern Europe: A Meta-Regression Analysis (2005)
Working Paper: Equilibrium Exchange Rates in Central and Eastern Europe: A Meta-Regression Analysis (2005)
Journal Article: Equilibrium exchange rates in Central and Eastern Europe: A meta-regression analysis (2006)
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