Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212525 
Authors: 
Year of Publication: 
2003
Series/Report no.: 
BOFIT Discussion Papers No. 11/2003
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
We apply BEER and PEER approaches to calculate real equilibrium exchange rates for five EU accession countries in central and east Europe.Bilateral nominal equilibrium exchange rates against the euro are obtained through algebraic transformation of the results. Panel cointegration techniques are used to check the adequacy of the empirical model.The results reveal substantial overvaluations of the real exchange rate in several EU accession countries. Overvaluation is even higher when these exchange rates are expressed in nominal terms against the euro.
Subjects: 
real exchange rates
equilibrium exchange rates
transition economies
panel cointegration
JEL: 
F31
F41
C23
Persistent Identifier of the first edition: 
ISBN: 
951-686-870-3
Document Type: 
Working Paper

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