Description |
1 online resource (29 pages) : illustrations |
Series |
IMF working paper, 2227-8885 ; WP/04/65 |
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IMF working paper ; WP/04/65.
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Contents |
""Contents""; ""I. INTRODUCTION AND SUMMARY""; ""II. LITERATURE REVIEW""; ""III. REAL EXCHANGE RATE AND MERCHANDISE TRADE DEVELOPMENT IN CROATIA""; ""IV. THEORETICAL MODEL""; ""V. APPLIED ECONOMETRIC MODELS""; ""VI. DATA DESCRIPTION""; ""VII. EMPIRICAL RESULTS""; ""VIII. POLICY IMPLICATIONS""; ""IX. CONCLUSION""; ""REFERENCES"" |
Summary |
A reduced-form model approach was used to estimate the trade balance response to permanent domestic currency depreciation. For this purpose, long-run and short-run effects were estimated, using three modeling methods along with two real effective exchange rate measures. On average, a 1 percent permanent depreciation improves the equilibrium trade balance by between 0.94 percent and 1.3 percent. The new equilibrium is established after approximately 2.5 years. Evidence of the J-curve is also found. Overall, in the light of the results obtained, it is questionable whether permanent depreciation is desirable to improve the trade balance, taking into account potential adverse effects on the rest of the economy |
Notes |
"April 2004." |
Bibliography |
Includes bibliographical references (pages 26-29) |
Notes |
At head of title: Office of the Executive Director for Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, the former Yugoslav Republic of Macedonia, Moldova, Kingdom of the Netherlands, Romania and Ukraine |
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Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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Print version record |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
Subject |
Foreign exchange rates -- Croatia
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Balance of trade -- Croatia
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Balance of trade
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Foreign exchange rates
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Croatia
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Form |
Electronic book
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Author |
International Monetary Fund. Office of the Executive Director for Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, the former Yugoslav Republic of Macedonia, Moldova, Kingdom of the Netherlands, Romania and Ukraine, issuing body.
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ISBN |
1451895291 |
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9781451895292 |
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1281429988 |
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9781281429988 |
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9781451848717 |
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1451848714 |
ISSN |
2227-8885 |
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