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What is Exchange Rate Overvaluation

Chapter 17
Handbook of Research on Computational Science and Engineering: Theory and Practice
An exchange rate overvaluation may be defined in different ways depending on the addressed research question. A real exchange rate overvaluation is, in general, the deviation of the actual rate from an equilibrium value that would be appropriate. It may be calculated, for example, as the deviation of the actual real exchange rate from the trend, measured as the percent deviation of the exchange rate level consistent with PPP equilibrium from the nominal exchange rate.
Published in Chapter:
Visualizing Indicators of Debt Crises in a Lower Dimension: A Self-Organizing Maps Approach
Peter Sarlin (Åbo Akademi University, Finland)
Copyright: © 2012 |Pages: 18
DOI: 10.4018/978-1-61350-116-0.ch017
Abstract
Since the 1980s, two severe global waves of sovereign defaults have occurred in less developed countries (LDCs): the LDC defaults in the 1980s and the LDC defaults at the turn of the 21st century. To date, the topic is contemporary, while the forecasting and monitoring results of debt crises are still at a preliminary stage. This chapter explores whether the application of the Self-Organizing Map (SOM), a neural network-based visualization tool, facilitates the monitoring of multidimensional financial data. Thus, this chapter presents a SOM model for visualizing the evolution of sovereign debt crises’ indicators. The results of this chapter indicate that the SOM is a feasible tool for visualization of early warning signals of sovereign defaults.
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