Misalignment and Managed Exchange Rates: An Application to the Thai Baht, Issues 2000-2063 |
Common terms and phrases
actual interest differentials actual real exchange ADF û analysis of misalignment analyzing misalignment Asian Currency Bank of Thailand behavior capital flows concept of sustainability cumulative interest differentials cumulative real interest debt to nominal Developing Countries deviations dynamic misalignment dynamics of misalignment Elbadawi Equilibrium Exchange Rates Equilibrium Real Exchange equilibrium values error-correction estimated long run Estimating Equilibrium Exchange Exchange Rate MEER exchange rate regimes exogenous expected exchange rate expected spot rates FEER approach foreign debt framework fundamental gross domestic product hypothetical scenario inflation differentials interest parity relationship International Monetary Fund L.E. Hinkle maintained managed equilibrium exchange managed exchange rate managed rates market's expected methodology misalignment gap nominal GDP p-values P.J. Montiel Washington P₁ Phillips-Loreton purchasing power parity Rates in Developing real exchange rate real interest differentials realignment reduced-form regime shifts risk premium sample period Section single-equation spot exchange rates Thai baht unit root test World Bank x₂