Estimating Iceland's Real Equilibrium Exchange Rate

Robert Tchaidze
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Robert Tchaidze: International School of Economics at Tbilisi State University

No 007-08, Working Papers from International School of Economics at TSU, Tbilisi, Republic of Georgia

Abstract: Given recent developments in Iceland, this paper evaluates its real exchange rate disequilibrium. It discusses three approaches to estimating the equilibrium values and suggests that the adjustment needed to bring the real exchange rate in line with fundamentals is in the range of 15-25 percent, although timing and manner of this adjustment is unclear.

Pages: 17 pages
Date: 2008-08
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Persistent link: https://EconPapers.repec.org/RePEc:tbs:wpaper:08-007

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