01686cas a2200241 a 4500 AALejournalIMF003487 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451860849 1018-5941 BD-DhAAL BD-DhAAL Oomes, Nienke. Maintaining Competitiveness Under Equilibrium Real Appreciation : The Case of Slovakia / Nienke Oomes. Washington, D.C. : International Monetary Fund, 2005. 1 online resource (29 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 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. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2005/065 Full text available on IMF http://elibrary.imf.org/view/journals/001/2005/065/001.2005.issue-065-en.xml IMF e-Library