Taux de change d’équilibre: une question d’horizon

Sophie Bereau, Agnès Bénassy-Quéré, Valérie Mignon

Research output: Contribution to journalArticle


We argue that the main equilibrium exchange rate approaches (ppp, beer, and feer) correspond to different time horizons of a single theoretical framework. We propose an illustration for the euro/dollar exchange rate. Our results suggest that the various approaches should not be opposed but rather combined to provide useful benchmarks for exchange-rate policies.
Original languageEnglish
Pages (from-to)657-666
Number of pages10
JournalRevue Economique
Issue number3
Publication statusPublished - 2009

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