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Issue Q4 2010  
Exchange Rate Misalignments and International Imbalances a FEER Approach for Emerging Countries  
Nabil Aflouk
Se-Eun Jeong
Jacques Mazier
Jamel Saadaoui
The objective of this paper is to examine the exchange rate misalignments (ERM) of the main emerging countries in Asia and Latin America since the 1980s, so as to shed light on the 2000s by a long term analysis and compare with the industrialized countries’ case. Our results confirm that ERM have been reduced since the mid-2000s at the world level, but the dollar remained overvalued against the East Asian countries, except the yen. Abstract

Equilibrium Exchange Rate ; Current Account Balance ; Macroeconomic Balance ; Emerging Countries ; Keywords
F31 ; F32 ; O11 ; JEL classification
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