scholarly journals Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues

Author(s):  
Balázs Égert ◽  
Laszlo Halpern ◽  
Ronald R. MacDonald
2005 ◽  
Vol 29 (2) ◽  
pp. 130-143 ◽  
Author(s):  
Francisco Maeso-Fernandez ◽  
Chiara Osbat ◽  
Bernd Schnatz

1996 ◽  
Vol 96 (125) ◽  
pp. i ◽  
Author(s):  
Lionel Halpern ◽  
Charles Wyplosz ◽  
◽  

2006 ◽  
Vol 20 (2) ◽  
pp. 257-324 ◽  
Author(s):  
Balazs Egert ◽  
Laszlo Halpern ◽  
Ronald MacDonald

1997 ◽  
Vol 44 (4) ◽  
pp. 430 ◽  
Author(s):  
Laszlo Halpern ◽  
Charles Wyplosz

1991 ◽  
Vol 137 ◽  
pp. 45-50 ◽  
Author(s):  
John Williamson

A number of economists, including the author, were critical of the central rate that was chosen when sterling entered the ERM in October 1990, on the ground that it overvalued the pound. Specifically, the central rate against the other ERM currencies implied a higher value for the pound than that yielded by calculations of ‘fundamental equilibrium exchange rates’ (FEERs).The present paper aims to explain the concept of the FEER, introduced by the author in Williamson (1983), and argues that it provides the right criterion for assessing whether a currency is correctly valued. It also sketches the evidence for believing the pound's ERM central rate to be above the FEER. A final section considers the policy implications of the finding that sterling is overvalued.


Sign in / Sign up

Export Citation Format

Share Document