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- Title
Análisis del tipo de cambio real en la República Dominicana: un estudio con base en metodologías de estimación del Fondo Monetario Internacional.
- Authors
Vásquez-Ruiz, Harold A.; Rivas Cueto, Rafael A.
- Abstract
This paper employs the methodologies from the Consultative Group on Exchange Rate Issues (CGER) of the International Monetary Fund's to determine the real exchange rate misalignment: i) the Macroeconomic Balance (MB) approach, ii) the External Sustainability (ES) approach, and iii) the Equilibrium Real Exchange Rate (ERER) approach. Additionally, we analyze the advantages and disadvantages of estimating disequilibrium exchange rates with different filters, including the HP and Trend Cycle ones. Results at the second quarter of 2013 indicate that, both at the short-run and the mediumrun, Dominican Republic's real exchange rate is slightly appreciated with respect to its estimated equilibrium level.
- Subjects
DOMINICAN Republic; DOMINICAN Republic economy; GROUP of Thirty; INTERNATIONAL Monetary Fund; FOREIGN exchange rates; MACROECONOMICS; APPRECIATION (Accounting); ECONOMIC policy
- Publication
Monetaria, 2014, Vol 36, Issue 1, p145
- ISSN
0185-1136
- Publication type
Article