1970 to 2008 and compare three different datasets on sectoral productivity, including a newly constructed database on total … factor productivity. Overall, our DOLS estimation results do not support the BS hypothesis. For the last two decades, we find … a very robust negative relationship between the productivity in the tradable sector and the equilibrium real exchange …

compare three data sets on sectoral productivity, including newly constructed data on total factor productivity. Overall, our … a robust negative relationship between productivity in the tradable sector and the real exchange rate, even after …

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 analyzes the welfare implications of international spillovers related to productivity gains, changes in …-equilibrium model with monopolistic competition, drawing a distinction between productivity gains from manufacturing efficiency and …

exchange rate (REER), on the one hand, and trade openness, trade balance, the terms of trade, factor productivity, and exchange … depreciation of the REER. The other variables considered in the analysis-factor productivity, trade balance, terms of trade, and …

We reappraise the relationship between productivity and equilibrium real exchange rates using a panel estimation … role of non-traded, as well as traded, sector productivity shocks in exchange rate determination. We find evidence of … significant correlation between real exchange rates and productivity differentials in both sectors. But our finding of a …

rate and sectoral productivity and in some circumstances, the standard Balassa-Samuelson effect may not hold. Empirical … evidence supports our theory: controlling for the difference in labor market rigidities across countries provides a better fit …

domestic labor force and intersectoral labor mobility. We propose a contrasting theory of the rich neighborhood effect which …