Equilibrium exchange rates in oil-exporting countries

Journal of Economics and Finance

Volumn 33, Issue 1, 2009, Pages 71-79

  Korhonen, Iikka ^a   Juurikkala, Tuuli ^b  

^a BANK OF FINLAND   (Finland)

^b WORLD BANK   (United States)

Author keywords

Equilibrium exchange rate; Pooled mean group estimator; Resource dependency

Indexed keywords

EID: 65549097682     PISSN: 10550925     EISSN: 19389744     Source Type: Journal    
DOI: 10.1007/s12197-008-9067-x     Document Type: Article

References (16)

1. Baffes J, Elbadawi I, O'Connell SA (1997) Single-equation estimation of the equillibrium exchange rate. Policy Research Working Paper No. 1800. World Bank, Washington, D.C.
2. Beck R, Fidora M (2008) The impact of sovereign wealth funds on global financial markets. Occasional paper no 91. European Central Bank, Frankfurt
3. P Cashin LF Céspedes R Sahay 2004 Commodity currencies and the real exchange rate J Dev Econ 75 239 268 doi:10.1016/j.jdeveco.2003.08.005 (Pubitemid 39204374)
4. Y Chen K Rogoff 2003 Commodity currencies J Int Econ 60 133 160 doi:10.1016/S0022-1996(02)00072-7 (Pubitemid 36425401)
5. WM Corden JP Neary 1982 Booming sector and de-industrialisation in a small economy Econ J 92 825 848 doi:10.2307/2232670
6. Edwards S (1989) Real exchange rates in the developing countries: Concepts and measurement. Working Paper No. W2950, National Bureau of Economic Research, Cambridge
7. Edwards S (1994) Real and monetary determinants of real exchange rate behavior: theory and evidence from developing countries. In: Williamson J (ed) Estimating equilibrium exchange rates. Institute for International Economics, Washington D.C., pp 61-92
8. K Hadri 2000 Testing for stationarity in heterogeneous panel data Econ J 3 148 161
9. Issa R, Lafrance R, Murray J (2006) The turning black tide: energy prices and the Canadian dollar. Working paper 2006-29. Bank of Canada, Ottawa
10. Kalcheva K, Oomes N (2007) Dutch disease: does Russia have the symptoms? Discussion paper 6/2007. Bank of Finland Institute for Economies in Transition, Helsinki
11. Koranchelian T (2005) The equilibrium real exchange rate in a commodity exporting country: Algeria's experience. Working paper 05/135. International Monetary Fund, Washington D.C.
12. PR Lane GM Milesi-Ferretti 2002 External wealth, the trade balance and the real exchange rate Eur Econ Rev 46 1049 1071 doi:10.1016/S0014-2921(02) 00160-5 (Pubitemid 34724842)
13. GS Maddala S Wu 1999 A comparative study of unit root tests with panel data and a new simple test Oxf Bul Econ Stat 61 631 652 (Pubitemid 33587434)
14. Montiel P (1999) Determinants of the long-run equilibrium exchange rate: an analytical model. In: Hinkle L, Montiel P (eds) Exchange rate misalignment: concepts and measurement for developing countries. Oxford University Press, Oxford, pp 264-292
15. Pesaran H, Smith R, Im K (1996) Dynamic linear models for heterogenous panels. In: Mátyás L, Sevestre P (eds) The econometrics of panel data. Kluwer Academic, Dordrecht, pp 145-195
16. Zalduendo J (2006) Determinants of Venezuela's equilibrium real exchange rate. Working paper 06/74. International Monetary Fund, Washington D.C.