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Book Cover
Author Cady, John, author

Title The equilibrium real exchange rate of the Malagasy franc : estimation and assessment / John Cady
Published [Washington, D.C.] : International Monetary Fund, [2003]
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Description 1 online resource (18 pages) : illustrations
Series IMF working paper ; WP/03/28
IMF working paper ; WP/03/28
Summary Employing cointegration techniques, the long-run determinants of Madagascar's real exchange rate are examined from a stock-flow perspective. The long-run behavior of the real effective exchange rate is explained by the net foreign asset position and factors affecting trade flows. An index of the long-run equilibrium real exchange rate is developed to assess the degree of misalignment. The general conclusions are that the Malagasy franc has experienced significant misalignment in the past, but that the recent appreciation of the real effective exchange rate is consistent with changes in the fundamentals, particularly anticipated improvements in the net foreign assets position stemming from Madagascar's eligibility for assistance under the enhanced HIPC Initiative
Bibliography Includes bibliographical references (page 18)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Alien property -- Madagascar.
Currency question -- Madagascar.
Equilibrium (Economics)
Foreign exchange rates -- Madagascar.
Form Electronic book
Author International Monetary Fund. African Department.
ISBN 1281606189