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Single-Equation Estimation of the Equilibrium Real Exchange Rate
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An econometric methodology for estimating both the equilibrium real exchange rate and the degree of exchange-rate misalignment.Estimating the degree of exchange
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An equilibrium exchange rate is here defined as the level that is consistent with simultaneous internal and external balances as specified in Montiel (1996). Ex
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How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate? What are the determinants and dynamics of equilib