
This papers estimates the equilibrium exchange rate for Armenia using three different approaches: the purchasing power parity (PPP) approach, the behavioral equilibrium exchange rate (BEER) approach, and the external sustainability (ES) approach. All three approaches suggest that the dram was overvalued by about 20–30 percent prior to the devaluation of the dram in March 2009.
Page Count:
22
Publication Date:
2009-03-01
ISBN-10:
145187197X
ISBN-13:
9781451871975
No comments yet. Be the first to share your thoughts!