Measuring real exchange rate instability in developing countries: empirical evidence and implications
Country Economics Dept., World Bank, 1991 - Business & Economics - 26 pages
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2.0 Standard deviates 56 countries 56 developing countries 56 managed exchange absolute value annual RER percentage average Bolivia changes in RER Colombia countries with managed developing countries distribution of RER Dominican Rep economic performance Ecuador effect of RER empirical excess kurtosis exchange rate policy export performance fat tails Franc Zone Guatemala higher order moments Honduras impact of RER implies interquartile range kurtosis statistics kurtosis std range Kurtotic distributions large depreciations largest depreciation LDCs with managed left skewness Malaysia managed exchange rates min|/avg kurtosis std nominal exchange rate normal distribution order moments skewness overvalued Paraguay real exchange rate Region median regression relative frequency RER behavior RER changes RER in developing RER index RER innovations RER percentage changes RER uncertainty RER variability resisted devaluation sample significant skewness and kurtosis skewness b3 Skewness max Sri Lanka Standard deviates 3.0 standard deviation standardized annual RER statistics for annual studentized range Thailand tradables Tunisia Zambia