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What does LRER stand for?

LRER stands for Long Run Equilibrium RER

This definition appears very rarely

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Misalignment of RER refers to the sustained deviation of the observed RER from its long-run equilibrium level. Three different measures of RER misalignment were constructed: purchasing power parity (RERMISPP), instability (RERMISINSTA), and black market (RERMISBLK). The MRER1, BRER2, and BMRER1 indexes were used respectively, in contrasting RERMISPP, RERMISINSTA, and RERMISBLK measures of RER misalignment.