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 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 …