The transition economies : a NATREX evaluation of research

Arbeitspapier

This paper applies the NATREX model of equilibrium exchange rates to evaluate several key studies of the Central and Eastern European Countries (CEEC) in general, with particular emphasis upon the Czech Republic and Hungary and with references to Poland and Bulgaria. On the basis of the NATREX model, we evaluate several key studies to answer the questions: How can the trends in the real exchange rates of the transition economies be explained? What are sustainable trends in their real exchange rates? To what extent were the real exchange rates misaligned? What are sustainable/equilibrium current account deficits and net investment positions in the medium and in the long-run? What are the policy implications for the transition economies of the NATREX analysis?

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CESifo Working Paper ; No. 1449

Classification and Topics

• Classification: Wirtschaft ; Current Account Adjustment; Short-term Capital Movements ; Foreign Exchange
• Subject: transition economies ; NATREX model ; equilibrium real exchange rates ; current account deficits ; euro area ; Wechselkurs ; Kaufkraftparität ; Gleichgewicht ; Zahlungsbilanzungleichgewicht ; Übergangswirtschaft ; Europäische Wirtschafts- und Währungsunion ; Schätzung ; Ostmitteleuropa

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Stein, Jerome L.
• Event: Veröffentlichung
• (who): Center for Economic Studies and ifo Institute (CESifo)
• (where): Munich
• (when): 2005

Further information

• Handle: http://hdl.handle.net/10419/18813
• Last update: 10.03.2025, 11:45 AM CET