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In Search of a Dramatic Equilibrium Was the Armenian Dram Overvalued?

This papers estimates the equilibrium exchange rate for Armenia using three different approaches: the purchasing power parity (PPP) approach, the behavioral equilibrium exchange rate (BEER) approach, and the external sustainability (ES) approach. All three approaches suggest that the dram was overva...

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Bibliographic Details
Main Author: Oomes, Nienke
Other Authors: Minasyan, Gohar, Stepanyan, Ara, Stepanyan, Vahram
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2009
Series:IMF Working Papers
Subjects:
Inflation
Productivity
Deflation
Purchasing Power Parity
Real Effective Exchange Rates
Production
Industrial Productivity
Currency
Macroeconomics: Production
Price Level
Foreign Exchange
Macroeconomics
Real Exchange Rates
Exchange Rates
Production And Operations Management
Armenia, Republic Of
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This papers estimates the equilibrium exchange rate for Armenia using three different approaches: the purchasing power parity (PPP) approach, the behavioral equilibrium exchange rate (BEER) approach, and the external sustainability (ES) approach. All three approaches suggest that the dram was overvalued by about 20–30 percent prior to the devaluation of the dram in March 2009
Physical Description:22 pages
ISBN:9781451871975

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