Arbeitspapier
Exchange rate misalingment estimates: Sources of differences
We study the differences of currency misalignment estimates obtained from alternative datasets derived from two International Comparison Program (ICP) surveys. A decomposition exercise reveals that the year 2005 misalignment estimates are substantially affected by the ICP price revision. Further, we find that differences in misalignment estimates are systematically affected by a country's participation status in the ICP survey and its data quality - a finding that casts doubt on the economic and policy relevance of these misalignment estimates. The patterns of changes in the estimated degree of misalignment across individual countries, as illustrated by the BRIC economies, are quite variable.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 3555
- Klassifikation
-
Wirtschaft
Foreign Exchange
Open Economy Macroeconomics
Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
Multiple or Simultaneous Equation Models: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
- Thema
-
Penn Effect Regression
data revision
PPP-based data
measurement factors
economic factors
Wechselkurs
Kaufkraftparität
Messung
Statistische Methode
Schätzung
Welt
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Cheung, Yin-wong
Fujii, Eiji
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Cheung, Yin-wong
- Fujii, Eiji
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2011
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