01658cas a2200241 a 4500 AALejournalIMF000449 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451853179 1018-5941 BD-DhAAL BD-DhAAL Feyzioglu, Tarhan. Estimating the Equilibrium Real Exchange Rate : An Application to Finland / Tarhan Feyzioglu. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (24 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students An equilibrium exchange rate is here defined as the level that is consistent with simultaneous internal and external balances as specified in Montiel (1996). Exogenous 'fundamental' variables determining these balances are identified. Along the lines of Edwards (1994), a reduced form is estimated with the cointegration technique for Finland for the period 1975-95. The estimation produced a reasonable set of equilibrium exchange rates that appreciate with positive shocks to the terms of trade, world real interest rates, and the productivity differential between Finland and its trading partners. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1997/109 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/109/001.1997.issue-109-en.xml IMF e-Library