Equilibrium exchange rate: Effect of the degree of competition on the real equilibrium exchange rate – evidence from a panel of exporting companies
|Author:||Mgr. Marie Raková|
|Year:||2006 - summer|
|Leaders:|| RNDr. Alexis Derviz CSc.
|Work type:|| Finance, Financial Markets and Banking
|Awards and prizes:||M.A. with distinction from the Dean of the Faculty of Social Sciences for an excellent state-final examination performance and for an extraordinarily good masters diploma thesis.
Ing. Jiří Podpiera, Ph.D. served as leading external consultant.
|Abstract:||This thesis analyzes the real equilibrium exchange rate. It consists of two parts. The purpose of the first part is to introduce the main equilibrium exchange rate theories and their empirical results. This part also focuses on the present empirical approaches, which are used by economists for testing the equilibrium exchange rate. The aim of the second part is to analyze the impact of market structure, expressed in degree of competition, on the equilibrium real exchange rate. Here we examine the following questions: What are the causes of misalignment of the real exchange rate? Does it depend on the market structure? And could, under certain degree of competition, be every move of nominal exchange rate assessed as equilibrium?|
|Downloadable:|| Marie Raková