01996cas a2200265 a 4500 AALejournalIMF006694 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455205288 1018-5941 BD-DhAAL BD-DhAAL Smidkova, Katerina. Sustainable Real Exchange Rates in the New Eu Member States : What Did the Great Recession Change? / Katerina Smidkova, Jan Babecky, Ales Bulir. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (25 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 The Great Recession affected export and import patterns in our sample countries, and these changes, coupled with a more volatile external environment, have profound impact on our estimates of real exchange rate misalignments and projections of sustainable real exchange rates. We find that real misalignments in several countries with pegged exchange rates and excessive external liabilities widened relative to earlier estimates. While countries with balanced net trade positions are expected to continue to experience appreciation during 2010-2014, several currencies are likely to require real depreciation to maintain sustainable net external debt. Our estimates point to somewhat larger disequilibria than those of IMF country teams, however, any estimates of equilibrium exchange rates are subject to sizable uncertainty. Mode of access: Internet Babecky, Jan. Bulir, Ales. IMF Working Papers; Working Paper ; No. 2010/198 Full text available on IMF http://elibrary.imf.org/view/journals/001/2010/198/001.2010.issue-198-en.xml IMF e-Library