01576cas a2200277 a 4500 AALejournalIMF005691 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451871975 1018-5941 BD-DhAAL BD-DhAAL Oomes, Nienke. In Search of a Dramatic Equilibrium : Was the Armenian Dram Overvalued? / Nienke Oomes, Vahram Stepanyan, Gohar Minasyan, Ara Stepanyan. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (22 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 papers estimates the equilibrium exchange rate for Armenia using three different approaches: the purchasing power parity (PPP) approach, the behavioral equilibrium exchange rate (BEER) approach, and the external sustainability (ES) approach. All three approaches suggest that the dram was overvalued by about 20-30 percent prior to the devaluation of the dram in March 2009. Mode of access: Internet Minasyan, Gohar. Stepanyan, Ara. Stepanyan, Vahram. IMF Working Papers; Working Paper ; No. 2009/049 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/049/001.2009.issue-049-en.xml IMF e-Library