| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10203 |
| DP10203 Real Exchange Rates and Sectoral Productivity in the Eurozone | |
| Charles Engel; Michael B Devereux | |
| 发表日期 | 2014-10-19 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | We investigate the link between real exchange rates and sectoral total factor productivity measures for countries in the Eurozone. Real exchange rate patterns closely accord with an amended Balassa-Samuelson interpretation, both in cross-section and time series. We construct a sticky price dynamic general equilibrium model to generate a cross-section and time series of real exchange rates that can be directly compared to the data. Under the assumption of a common currency, estimates from simulated regressions are very similar to the empirical estimates for the Eurozone. Our findings contrast with previous studies that have found little relationship between productivity levels and the real exchange rate among high-income countries, but those studies have included country pairs which have a floating nominal exchange rate. |
| 主题 | International Macroeconomics |
| 关键词 | Balassa-samuelson Eurozone Real exchange rates Total factor productivity Unit labor cost |
| URL | https://cepr.org/publications/dp10203 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539036 |
| 推荐引用方式 GB/T 7714 | Charles Engel,Michael B Devereux. DP10203 Real Exchange Rates and Sectoral Productivity in the Eurozone. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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