directly via the effect of productivity, one possible explanation is that PER Capita GDP is not good explanation for … productivity (.i.e. Labor productivity) differences; an increase (decrease) in relative efficiency of the distribution sector with … achieved. Model implies German Labor productivity to UK Labor productivity ratio doesn’t have significant influence on …

, 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 …

productivity gains on both the Balassa-Samuelson effect and the behaviour of the tradable real exchange rate is especially assessed …