| Description |
1 online resource (29 pages) : illustrations |
| Series |
IMF working paper, 2227-8885 ; WP/05/65 |
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IMF working paper ; WP/05/65.
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| Contents |
Contents -- I. INTRODUCTION -- II. WAGES -- III. PRICES -- IV. EQUILIBRIUM REAL APPRECIATION � CROSS-SECTION ESTIMATES -- V. EQUILIBRIUM REAL APPRECIATION � TIME-SERIES ESTIMATES -- VI. CONCLUSION -- REFERENCES -- Appendix I. Unit Root Tests, Cointegration Tests, and Cointegration Estimates -- Appendix II. Recursive Coefficient Estimates of Real Exchange Rate Determinants |
| Summary |
This paper evaluates competitiveness in Slovakia and estimates the equilibrium real exchange rate for the koruna. Slovak wages and prices are found to have been relatively low even when adjusted for differences in relative income and productivity, suggesting an undervalued real exchange rate. However, recent rapid nominal appreciation has reduced most or all of this undervaluation and has brought the real exchange rate near or above equilibrium. The productivity-driven equilibrium real appreciation rate during 2005?09 is estimated at close to 3 percent per year but can be lower with the help of fiscal consolidation |
| Bibliography |
Includes bibliographical references (pages 22-24) |
| 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. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
English |
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Print version record |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Competition -- Slovakia
|
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Equilibrum (Political economy)
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Wages -- Slovakia
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Competition.
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Wages.
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Slovakia.
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| Form |
Electronic book
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| Author |
International Monetary Fund. European Department, issuing body.
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| ISBN |
9781451906202 |
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145190620X |
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1462392210 |
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9781462392216 |
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1452793557 |
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9781452793559 |
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1282108573 |
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9781282108578 |
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9786613801920 |
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6613801925 |
|
