Real Exchange Rates And Fundamentals: Robustness Across Alternative Model Specifications, Algerian Case(1990-2019)
Résumé: This paper explores the robustness of behavioural equilibrium exchange rate (BEER) and natural equilibrium exchange rate (NATRAX) models, focusing on the appropriate approach for the Algerian currency exchange model with Algerian dinar real bilateral rates as dependent variable. It consists, in the first step, to determinate the equilibrium real exchange rate using BEER approach developed by Macdonald (1995), and Natrex approach developed by Lim & Stein. Cointegration technics and VECM models are used in this step. In a second step, we should choose the appropriate approach by the comparison between the two approaches. Obtained results show that the Natrex approach is advantageous in terms of degree of misalignment for the Algerian currency case. Therefore, we can conclude that it can be closer to the Algerian economic specification.
Mots-clès:
Nos services universitaires et académiques
Thèses-Algérie vous propose ses divers services d’édition: mise en page, révision, correction, traduction, analyse du plagiat, ainsi que la réalisation des supports graphiques et de présentation (Slideshows).
Obtenez dès à présent et en toute facilité votre devis gratuit et une estimation de la durée de réalisation et bénéficiez d'une qualité de travail irréprochable et d'un temps de livraison imbattable!