Measuring exchange rate misalignment
Joint Authors
Source
Economic Research Forum : Working Paper Series
Issue
Vol. 2002, Issue 201-240 (31 Dec. 2002)14 p.
Publisher
Economic Research Forum for the Arab Countries Iran and Turkey
Publication Date
2002-12-31
Country of Publication
Egypt
No. of Pages
14
Main Subjects
Topics
Abstract EN
We propose a new methodology to measure exchange rate misalignment for Turkey, which has already undergone a severe economic crisis.
We estimate the real exchange rate within a time varying parameter model, where a return-to-normality assumption about the parameters are assumed.
Contrary to common belief, it is found that, except the initial four months of the stabilization program, the Turkish Lira remained structurally undervalued for most of 2000.
Also, we observe a pattern where the Lira has been structurally overvalued after the crisis in 1994 until 1998, and has displayed structural undervaluation after that.
American Psychological Association (APA)
Ozale, Umit& Yeldan, A. Erinc. 2002. Measuring exchange rate misalignment. Economic Research Forum : Working Paper Series،Vol. 2002, no. 201-240.
https://search.emarefa.net/detail/BIM-150582
Modern Language Association (MLA)
Ozale, Umit& Yeldan, A. Erinc. Measuring exchange rate misalignment. Economic Research Forum : Working Paper Series No. 201-240 (Dec. 2002).
https://search.emarefa.net/detail/BIM-150582
American Medical Association (AMA)
Ozale, Umit& Yeldan, A. Erinc. Measuring exchange rate misalignment. Economic Research Forum : Working Paper Series. 2002. Vol. 2002, no. 201-240.
https://search.emarefa.net/detail/BIM-150582
Data Type
Journal Articles
Language
English
Notes
Includ appendix.
Record ID
BIM-150582