Titlebook: Exchange Rates and Macroeconomic Dynamics; Pavlos Karadeloglou (Head of the Global Economy Se Book 2008 Palgrave Macmillan, a division of

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Real Equilibrium Exchange Rate in China. Is the Renminbi Undervalued?the dollar depreciated significantly in 2003 and 2004. As China runs a current account surplus, this depreciation of the exchange rate has raised the question of a possible undervaluation of the renminbi. The shift to a managed float with a reference to a currency basket and the 2 per cent revaluati

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Exchange Rate Pass-Through Effect and Monetary Policy in Russiahted portfolio of foreign currencies) on the country’s domestic prices for traded and non-traded goods. PTE of exchange rate changes on domestic prices is one of the major factors of transission of shocks in an open economy. Lafleche (1996) offered a diagram, which described these mechanisms of reac

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Disaggregated Econometric Models to Forecast Inflation in Hungary way, the purport of an inflation-targeting regime is the following: the monetary authority declares an inflation target for the future, next, it compares this target with its own forecasts of future inflation based on currently available information, and finally it revises monetary conditions, in o

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An Open Economy Dynamic General Equilibrium Model Linking the Euro Area and the US Economyaccount. This model is based on the optimising behaviour of the microeconomic units, firms and households, in a monopolistic competitive environment with nominal rigidities in the price and wage setting. Consumption and investment goods are aggregate baskets of domestic and foreign goods, which are

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Timo Sedelmeier,Olaf Kühne,Corinna Jenalvements. They have also a keen interest in understanding determinants of the equilibrium real exchange rate and the factors behind implied misalignments of the actual rate from its equilibrium level. The real exchange rate is viewed as a key indicator of external competitiveness. Hence, a real appre

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