01949cas a2200265 a 4500 AALejournalIMF004338 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451864809 1018-5941 BD-DhAAL BD-DhAAL Leigh, Lamin. How Robust are Estimates of Equilibrium Real Exchange Rates : The Case of China / Lamin Leigh, Steven Dunaway, Xiangming Li. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (13 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 Increased attention is being paid to assessments of the actual values of countries' real exchange rates relative to their "equilibrium" values as suggested by "fundamental" determining factors. This paper assesses the robustness of alternative approaches and models commonly used to derive equilibrium real exchange rate estimates. Using China's currency to illustrate this analysis, the variance in estimates raises serious questions regarding how robust the results are. The basic conclusion from the tests used here is that, at least for China, small changes in model specifications, explanatory variable definitions, and time periods used in estimation can lead to very substantial differences in equilibrium real exchange rate estimates. Thus, such estimates should be treated with great caution. Mode of access: Internet Dunaway, Steven. Li, Xiangming. IMF Working Papers; Working Paper ; No. 2006/220 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/220/001.2006.issue-220-en.xml IMF e-Library