| Description |
1 online resource (24 pages) : illustrations |
| Series |
IMF working paper ; WP/04/37 |
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IMF working paper ; WP/04/37.
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| Contents |
Contents -- I. INTRODUCTION -- II. COMPETITIVENESS, RER, AND TRANSITION COUNTRIES -- III. EMPIRICAL ANALYSIS OF THE RER IN BULGARIA -- IV. CONCLUSIONS -- APPENDIX I. EXPLANATION OF THE MODEL AND ITS SHORTCOMINGS -- APPENDIX II. ESTIMATION RESULTS -- REFERENCES |
| Summary |
This paper presents an empirical analysis of the medium- and long-term determinants of the real (effective) exchange rate (RER) of the Bulgarian lev using elements from the natural real exchange rate (NATREX) and the behavioral equilibrium exchange rate (BEER) approaches. The results indicate that the RER is driven by fundamentals, including labor productivity, terms of trade, world real interest rates, gross savings, and foreign direct investment. The model also shows that there is no significant misalignment of the Bulgarian lev |
| 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 |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
Competition -- Bulgaria
|
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Foreign exchange rates -- Bulgaria
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Competition
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Foreign exchange rates
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Bulgaria
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| Form |
Electronic book
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| Author |
Sorsa, Piritta, 1955- author.
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International Monetary Fund. European Department, issuing body.
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| ISBN |
1451893043 |
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9781451893045 |
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1281602213 |
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9781281602213 |
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9781451845600 |
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145184560X |
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