| Euro-dollar real exchange rate misalignments： Is the euro overvalued？ |
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| 作者姓名： | Leonardo Tariffi |
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| 作者单位： | [1]Universitat de Barcelona, Barcelona 08034, Spain [2]IESE Business School, Barcelona 08034, Spain |
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| 基金项目： | This research was presented at the Universitat de Barcelona in 2008 through the DEA,s dissertation. Thank to seminar participants at the DIW macro econometrics workshop for comments and discussions. |
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| 摘 要： | This paper estimates both short term and long run relationship between the real bilateral EUR-USD exchange rate and its real determinants. In the long run, it finds that the non-stationary real exchange rate in levels is linearly co-integrated with real variables. Using an ordinary least squares method with error correction mechanism, it investigates real EUR-USD exchange rate misalignment in the short term. By analysing real variables and their influence on international trade and capital movements, potential economic policies capable of maintaining equilibrium in the balance of payments and avoiding currency overvaluation are considered.
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| 关 键 词： | 汇率 美元 失调 普通最小二乘法 国际贸易 纠错机制 资本流动 经济政策 |
Euro-dollar real exchange rate misalignments： Is the euro overvalued？ |
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| Leonardo,Tariffi.Euro-dollar real exchange rate misalignments： Is the euro overvalued？[J].China-USA Business Review,2010,9(7):1-21. |
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| Authors: | Leonardo Tariffi |
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| Institution: | [1]Universitat de Barcelona, Barcelona 08034, Spain [2]IESE Business School, Barcelona 08034, Spain |
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| Abstract: | real exchange rate misalignment purchasing power parity co-integration unit roots test theRicardo-Samuelson-Balassa effect |
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| Keywords: | real exchange rate misalignment purchasing power parity co-integration unit roots test theRicardo-Samuelson-Balassa effect |
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