Le taux de change réel d'équilibre dans les pays en transition: le cas de la Hongrie

Nathalie Avallone and Amina Lahreche-Revil
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Nathalie Avallone: TEAM-CESSEFI, Université Paris 1
Amina Lahreche-Revil: Université d'Amiens, CEPII et TEAM-CESSEFI, Université Paris 1

Cahiers de la Maison des Sciences Economiques from Université Panthéon-Sorbonne (Paris 1)

Abstract: We estimate two complementary models of real equilibrium exchange rate to assess the behaviour of the real exchange rate of the hungarian Forint. The first model uses the Balassa-Samuelson effect, where the behaviour of the real exchange rate depends on the relative productivities. This second one is a model of "behavioural" real equilibrium exchange rate, relying on the simultaneous attainment of internal and external equilibrium, and using a demand-oriented approach (Edwards [1994]). On the period of analysis (1985-1997), both estimates converge on the diagnosis that the exchange rate policy of Hungary focused on external competitiveness vis-à-vis the European Union

Keywords: equilibrium exchange rate; transition economies; Hungary (search for similar items in EconPapers)
JEL-codes: F31 (search for similar items in EconPapers)
Pages: 16 pages
Date: 1999-10
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:mse:wpsorb:bla99091

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