Sánchez, Marcelo (contributor) - 2006
52; E58; F33; F40
Keywords: Monetary union, Balassa-Samuelson effect, Exchange rates, Price stability … Balassa-Samuelson e�ect.
In order to account for this, we allow sectoral productivity shocks to in�u-
ence real exchange rate …, including
the type of real appreciation processes known as the Balassa-Samuelson e�ect.1
Our model is similar to the one used by …