02173cas a2200277 a 4500 AALejournalIMF004120 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451843477 1018-5941 BD-DhAAL BD-DhAAL Clark, Peter. Robustness of Equilibrium Exchange Rate Calculations to Alternative Assumptions and Methodologies / Peter Clark, Steven Symansky, Tamim Bayoumi, Mark Taylor. Washington, D.C. : International Monetary Fund, 1994. 1 online resource (50 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 explores a number of methodological issues that arise in the calculation of equilibrium exchange rates, which are identified in this paper as those real effective exchange rates consistent with macroeconomic equilibrium, id est, internal and external balance. A partial equilibrium, comparative static analysis is presented and the methodology is applied to the break-up of the Bretton Woods exchange rate system. Then the dynamic interaction between the current account and the stock of net foreign assets is examined. Finally, the analysis uses a more general equilibrium approach by relying on simulations using MULTIMOD, a multicountry econometric model. The paper demonstrates the extent to which the equilibrium exchange rate calculations depend upon alternative assumptions regarding factors that affect internal and external balance. In addition, results obtained using the comparative static and dynamic macroeconomic approaches are compared. Mode of access: Internet Bayoumi, Tamim. Symansky, Steven. Taylor, Mark. IMF Working Papers; Working Paper ; No. 1994/017 Full text available on IMF http://elibrary.imf.org/view/journals/001/1994/017/001.1994.issue-017-en.xml IMF e-Library