Exchange rate determination: market models and empirical evidence for the 1990-2000 period from emerging financial markets &amp;ndash; the case of Indonesia

Rusydi, M. Khoiru; Islam, Sardar M. N.

doi:10.1504/ijmef.2010.031235

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Review Of Empirical Research On Real Exchange Rates1

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2011

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“…Most of the recent empirical studies test hypotheses against various theoretical backgrounds ranging from the law of one price or Purchasing Power Parity (PPP) theory to concepts of uncovered interest parity to equilibrium real exchange rates. These studies include Rusydi and Islam (2010), Petrevski (2007Petrevski ( , 2010, Hsing and Sergi (2009), Russel (2009). While some of the papers tested the validity of PPP or the Balassa-Samuelson effect, some modelled the dynamics of real exchange rates and others attempt to determine the long-run equilibrium real exchange rates and to assess the possible misalignment.…”

Section: Review Of Empirical Research On Real Exchange Ratesmentioning

confidence: 99%

Equilibrium real exchange rate in Fiji: an empirical study

Jayaraman

Choong

2011

IJMEF

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Given the fact that Fiji has a very narrow range of exportable commodities with a high degree of dependence on tourism earnings, maintenance of a competitive real exchange rate is of utmost importance. This paper undertakes an empirical analysis of Fiji's real exchange rate, by estimating long-run equilibrium real exchange rate and examining the short-run dynamics of real exchange rates and detection of possible misalignment. Empirical investigation shows that there has been no large, persistent instance of misalignment of Fiji's Real Effective Exchange Rate (REER).

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