Freitas, Miguel Lebre de; Castro, Miguel de Faria e - Núcleo de Investigação em Políticas Económicas … - 2014
We disentangle the extent to which the real exchange rate appreciation in Portugal during 1995-2010 reflected the emergence of wage-productivity misalignments or, instead, changes in the relative price of tradable and non-tradable goods. The available data suggests that the latter effect...