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Maintaining Competitiveness Under Equilibrium Real Appreciation: The Case of Slovakia (EPub)
By:Nienke Oomes
Published on 2005-03-01 by International Monetary Fund

This paper evaluates competitiveness in Slovakia and estimates the equilibrium real exchange rate for the koruna. Slovak wages and prices are found to have been relatively low even when adjusted for differences in relative income and productivity, suggesting an undervalued real exchange rate. However, recent rapid nominal appreciation has reduced most or all of this undervaluation and has brought the real exchange rate near or above equilibrium. The productivity-driven equilibrium real appreciation rate during 2005?09 is estimated at close to 3 percent per year but can be lower with the help of fiscal consolidation.

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Book which was published by International Monetary Fund since 2005-03-01 have ISBNs, ISBN 13 Code is 9781452793559 and ISBN 10 Code is 1452793557

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