Maintaining Competitiveness Under Equilibrium Real Appreciation : The Case of Slovakia /
This paper evaluates competitiveness in Slovakia and estimates the equilibrium real exchange rate for the koruna. Slovak wages and prices are found to have been relatively low even when adjusted for differences in relative income and productivity, suggesting an undervalued real exchange rate. Howeve...
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| Materialtyp: | Tidskrift |
| Språk: | English |
| Publicerad: |
Washington, D.C. :
International Monetary Fund,
2005.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2005/065 |
| Länkar: | Full text available on IMF |
| Sammanfattning: | This paper evaluates competitiveness in Slovakia and estimates the equilibrium real exchange rate for the koruna. Slovak wages and prices are found to have been relatively low even when adjusted for differences in relative income and productivity, suggesting an undervalued real exchange rate. However, recent rapid nominal appreciation has reduced most or all of this undervaluation and has brought the real exchange rate near or above equilibrium. The productivity-driven equilibrium real appreciation rate during 2005?09 is estimated at close to 3 percent per year but can be lower with the help of fiscal consolidation. |
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| Beskrivning: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Fysisk beskrivning: | 1 online resource (29 pages) |
| Materialtyp: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Tillgång: | Electronic access restricted to authorized BRAC University faculty, staff and students |