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Tipo de Cambio Real: Revisión Internacional

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  • Erika Arraño
  • Faruk Miguel

Abstract

This paper outlines the theoretical considerations of the Real Exchange Rate (RER). It also describes the actual RER calculation methodologies in several central banks and international organizations. While there is consensus on how the RER should theoretically be constructed, in practice, there are many differing approaches which are constantly under review. The main objective of the RER is to measure the international competitiveness of an economy relative to its major trading partners. The most common methodology considers international trade flows (including third countries) and the Consumer Price Index (CPI) as a deflator.

Suggested Citation

  • Erika Arraño & Faruk Miguel, 2015. "Tipo de Cambio Real: Revisión Internacional," Economic Statistics Series 112, Central Bank of Chile.
    • Handle: RePEc:chb:bcchee:112
    as

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    File URL: http://www.bcentral.cl/estudios/estudios-economicos-estadisticos/pdf/see112.pdf
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    References listed on IDEAS

    as
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