Have real exchange rates and competitiveness in Central and Eastern Europe fundamentally changed?

Juan Cuestas, Mercedes Monfort and Javier Ordóñez

International Review of Economics & Finance, 2024, vol. 89, issue PA, 618-628

Abstract: In this paper we analyse the evolution of the RER and its main fundamentals for a group of Central and Eastern European countries. We focus particularly on the possibility of structural breaks in the relationship. We find clear evidence of breaks, mainly caused by the great recession. We find that a combination of both supply-side and demand-side effects are behind the variations in the real exchange rate, and overall, capital inflows have contributed to improve competitiveness in these countries.

Keywords: Real exchange rates; Central and eastern europe; Structural breaks; European integration (search for similar items in EconPapers)
JEL-codes: C22 F15 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:89:y:2024:i:pa:p:618-628

DOI: 10.1016/j.iref.2023.07.072

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