In this paper, we present an overview of a number of issues relating to the equilibrium
exchange rates of transition economies of the former soviet bloc. In particular, we present a …

This chapter sets out to examine the concept of equilibrium exchange rates. Empirical
estimates of equilibrium exchange rates are frequently cited in policy-related discussions of …

This paper presents tests of long run macroeconomic relations involving interest rates,
equity, prices and exchange rates suggested by arbitrage in financial and goods markets. It …

Traditionally economic panels had large number of cross-section units and relatively few
time periods and econometric methods were developed for such 'large N small T'data. More …

This paper discusses the I (2) model with breaks in the deterministic component and
illustrates the model with an analysis of German and US prices, exchange rates, and interest …

The decoupling of US short and long interest rates has been a distinctive feature of the
2000s. We employ recent advances in panel econometrics to document this disconnect for …

The notions of instrument, intermediate target and final target are defined in the context of
the cointegrated VAR. A target variable is said to be controllable if it can be made stationary …

This study compares the forecasting performance of a structural exchange rate model that
combines the purchasing power parity condition with the interest rate differential in the long …

The paper presents the results of an investigation where the concept of a steady-state level
of the exchange rate is equated with the capital market equilibrium based on the CHEER …

THE ROLE OF POLITICS AND INSTABILITY ON PUBLIC SPENDING DYNAMICS AND
MACROECONOMIC PERFORMANCE: THEORY AND EVIDENCE FROM TURKEY Page 1 …