The Equilibrium Exchange Rate of Mauritius: Evidence from Two Structural Models

被引：5
|
作者：
Imam, Patrick [1 ]
Minoiu, Camelia [2 ]
机构：
[1] Int Monetary Fund, Monetary & Capital Markets Dept, Washington, DC 20431 USA
[2] Int Monetary Fund, IMF Inst, Washington, DC 20431 USA
来源：
EMERGING MARKETS FINANCE AND TRADE | 2011年 / 47卷 / 06期
关键词：
equilibrium real exchange rate; external sustainability; fundamental equilibrium exchange rate; macroeconomic balance; Mauritius; DEVELOPING-COUNTRIES; TRADE BALANCE; POLICY;
D O I：
10.2753/REE1540-496X470608
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper we assess the equilibrium value of the Mauritian rupee in 2006-7 and over the medium run using two structural models. First, we derive a current account-based measure of the exchange rate equilibrium using the macroeconomic balance approach. Second, we estimate a reduced-form fundamental equilibrium exchange rate measure. Our results, which are robust to an alternative non-econometric approach, suggest that the Mauritian rupee was aligned with its equilibrium value in 2006-7 and little adjustment appeared necessary over the medium run.
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页码：134 / 147
页数：14
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