An attempt is made to explore the basic implications of differences in productivity growth rates in countries within a … model of Harrod-Balassa Samuelson effect and linking productivity and relative price dynamics with monetary policy, it is … shown that: 1) productivity growth in faster-growing countries (FGC) leads to either inflation there, or union-wide exchange …

. Sectoral productivity shocks on balance hamper the stabilisation properties of a currency union. In the face of aggregate …

. Sectoral productivity shocks on balance hamper the stabilisation properties of a currency union. In the face of aggregate …

This paper investigates cross-sectoral productivity differentials in South African industry and their distributional … consequences. The analysis shows that typically, traded sectors have experienced low productivity growth over the past decade …, while skill intensive service sectors have had significant productivity growth. This is the inverse of the traditional …

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. -- Exchange rates ; Productivity …

, leading to a negative relationship between productivity in the tradable sector and the real exchange rate. In a small open … for imported consumption goods. Non-tradable services are produced with low-skilled labor only. A rise in the productivity …