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 …

example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. …

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 …

positive price-income association is attributable, at least partly, to the Balassa-Samuelson productivity differential effect …

We investigate the link between real exchange rates and sectoral total factor productivity measures for countries in … previous studies that have found little relationship between productivity levels and the real exchange rate among high …

resourcerich economies - the model reveals that productivity shifts and commodity market trends significantly influence domestic …