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Real and nominal effective exchange rates of African countries during 1971Q1–2012Q4

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One of the macro variables that are included in most models is the exchange rate. Overall performance of a country’s exchange rate is measured by changes in nominal or real effective exchange rate (REER). These rates are constructed and published mostly for industrial countries by international organizations. Less developed countries have received little attention. In this article, the two rates are constructed for 21 African countries using quarterly data over the period 1971Q1–2012Q4. As an application, we use the REERs to show that even in Africa the movements of the real effective rates follow a nonlinear path.
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Keywords: Africa; F31; F37; PPP; nominal effective rates; real effective rates

Document Type: Research Article

Affiliations: Department of Economics, The Center for Research on International Economics, University of Wisconsin-Milwaukee, Milwaukee, WI, 53201, USA

Publication date: 2014-06-13

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