Equilibrium Exchange Rates in Central and Eastern Europe: A Meta-Regression Analysis

Balázs Égert and László Halpern ()

No wp769, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan Stephen M. Ross Business School

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-eec, nep-ifn, nep-mac, nep-mon and nep-tra
Date: 2005-05-01
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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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Persistent link: http://EconPapers.repec.org/RePEc:wdi:papers:2005-769

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