United States relative to Japan. High productivity growth in the traded sector of the Japanese economy results in a …

dynamic productivity-based models are used to motivate the empirical exercise. The candidate determinants include productivity … sectoral productivity differentials is estimated with greater precision as long as homogeneity of parameters is imposed upon … most empirically successful model of the real exchange rate includes sectoral productivity measures in the long run …

, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result …. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies …

The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined … relative productivity ratios, one finds a relationship for Japan, Malaysia, and the Philippines. Only when augmenting the … productivity variables, as well as other demand side factors, are less encouraging, except for a small subset of countries …

Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the … real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample … argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We …

This paper documents the evidence for a productivity based model of the dollar/euro real exchange rate over the 1985 …-2001 period. We estimate cointegrating relationships between the real exchange rate, productivity, and the real price of oil using … productivity differential results in a five percentage point real appreciation of the dollar. This finding is robust to the …

estimated with greater precision. The most empirically successful models include productivity measures, government spend- ing …

International comparisons of the level of labor or total factor productivity have used exchange rates or purchasing … persistent, raising the need for disaggregate price measures to make disaggregate productivity comparisons. Sectoral differences …