Autori: Patrick Imam and Camelia Minoiu
Editorial: Ali Khutan , ME Sharpe, Inc., Emerging Markets Finance and Trade , 47(6), 2011.
In this paper, we assess the equilibrium value of the Mauritian rupee in 2006–07 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 2006–07 and little adjustment appeared necessary over the medium run.
Cuvinte cheie: rata de schimb reala de echilibru, echilibru macroeconomic, viabilitate externa, Mauritiu // equilibrium real exchange rate, macroeconomic balance, fundamental equilibrium exchange rate, external sustainability, Mauritius