Real Exchange Rate Misalignment: Prelude to Crisis?

Table 10

Russia: performance results, one period ahead out of sample forecasts

---Lnrureer -----Lnrureerfi---lnrureerf2

Fig 5. Russia, out of sample forecasting for the post crisis period; specification 4

* LNRUREER is the Actual Log Real Exchange Rate
LNRUREERF1 is the ‘Static Forecast’, one period ahead

LNRUREERF2 is the ‘Dynamic Forecast’, one period ahead

41

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