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150128 ||| eng |
020 |
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|a 9781455205288
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100 |
1 |
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|a Smídková, Katerina
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245 |
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|a Sustainable Real Exchange Rates in the New Eu Member States
|b What Did the Great Recession Change?
|c Katerina Smídková, Jan Babecky, Ales Bulir
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2010
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300 |
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|a 25 pages
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651 |
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4 |
|a Czech Republic
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653 |
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|a Investments, Foreign
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653 |
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|a International Monetary Arrangements and Institutions
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653 |
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|a Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation
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653 |
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|a Balance of trade
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653 |
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|a Finance
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653 |
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|a Financial Aspects of Economic Integration
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653 |
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|a Balance of payments
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653 |
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|a Trade balance
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653 |
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|a Long-term Capital Movements
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653 |
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|a Currency
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653 |
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|a Trade: General
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653 |
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|a Exports and Imports
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653 |
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|a International Lending and Debt Problems
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653 |
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|a International economics
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653 |
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|a External debt
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653 |
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|a Debts, External
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653 |
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|a Foreign Exchange
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653 |
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|a International trade
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653 |
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|a Exports
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653 |
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|a Real exchange rates
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653 |
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|a Empirical Studies of Trade
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653 |
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|a Foreign exchange
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653 |
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|a International Investment
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653 |
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|a Foreign direct investment
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700 |
1 |
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|a Babecky, Jan
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700 |
1 |
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|a Bulir, Ales
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041 |
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7 |
|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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490 |
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|a IMF Working Papers
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028 |
5 |
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|a 10.5089/9781455205288.001
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856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2010/198/001.2010.issue-198-en.xml?cid=24168-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a The Great Recession affected export and import patterns in our sample countries, and these changes, coupled with a more volatile external environment, have profound impact on our estimates of real exchange rate misalignments and projections of sustainable real exchange rates. We find that real misalignments in several countries with pegged exchange rates and excessive external liabilities widened relative to earlier estimates. While countries with balanced net trade positions are expected to continue to experience appreciation during 2010-2014, several currencies are likely to require real depreciation to maintain sustainable net external debt. Our estimates point to somewhat larger disequilibria than those of IMF country teams, however, any estimates of equilibrium exchange rates are subject to sizable uncertainty
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