The equilibrium real exchange rate and macroeconomic performance in developing countries

Schroder, Marcel

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The equilibrium real exchange rate and macroeconomic performance in developing countries

Date

2017

Authors

Schroder, Marcel

Publisher

Routledge, Taylor & Francis Group

Abstract

This article presents first estimates of the growth impact of the equilibrium real exchange rate (ERER) for a sample of 63 developing countries over 1970-2007. The results suggest that real exchange rate misalignment, not the level of the ERER, matters for macroeconomic performance in these countries.