Theoretical approaches to the assessment of equilibrium foreign exchange rate
The article presents theoretical approaches to the assessment of the equilibrium exchange rate, particularly, the purchasing power model, behavioral and fundamental approaches. The fundamental approach is described by methods of macroeconomic balance and external sustainability. The behavioral approach is represented by the method of uncovered interest rate parity, monetary models. Presence of significant mispresentations of the market mechanisms in the Belarusian economy demands a careful approach to application of the evaluations on the basis of behavioral exchange rate models. Therefore, the second part of the study focuses on the method of macroeconomic balance estimated at the panel regression.