Economic Competitiveness and the Equilibrium Real Exchange Rate1

摘要

This paper aims to estimate the Equilibrium Real Exchange Rate (ERRE) for Romania after having precisely established the theoretical and conceptual basis of this indicator, its connection to the competitiveness issue, and its significance for a transition economy such as the Romanian one. The essential hypothesis generating this study is represented by the significance of the ERRE as the most important indicator of the international competitiveness all that in the context of the recent economic developments in Romania.