Tunisia: Selected Issues

International Monetary Fund

No 2002/120, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper for Tunisia presents a literary survey of the research on constant real exchange rate rule (CRERR). It assesses Tunisia’s experience with CRERR in terms of inflation performance and discusses possible reasons for Tunisia’s apparent success at avoiding the pitfalls of CRERR as predicted by the theoretical models. The paper presents a regression analysis estimating the equilibrium real exchange rate based on different fundamental variables and compares this with the path of the actual exchange rate. The paper also assesses Tunisia’s external competitiveness over the past decade using a range of indicators.

Keywords: ISCR; CR; exchange rate; Tunisia; price; goods; nominal exchange rate; rate depreciation; equilibrium exchange rate; GDP deflator; liberalization of the capital account; excess demand; goods export; wage-price-exchange rate spiral; Real exchange rates; Real effective exchange rates; Exchange rates; Capital account liberalization; Inflation; Middle East; North Africa; Africa (search for similar items in EconPapers)
Pages: 69
Date: 2002-06-17
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