G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w8824
来源IDWorking Paper 8824
Productivity and the Euro-Dollar Exchange Rate Puzzle
Ron Alquist; Menzie D. Chinn
发表日期2002-03-07
出版年2002
语种英语
摘要This paper documents the evidence for a productivity based model of the dollar/euro real exchange rate over the 1985-2001 period. We estimate cointegrating relationships between the real exchange rate, productivity, and the real price of oil using the Johansen (1988) and Stock-Watson (1993) procedures. We find that each percentage point in the US-Euro area productivity differential results in a five percentage point real appreciation of the dollar. This finding is robust to the estimation methodology, the variables included in the regression, and the sample period. We conjecture that productivity-based models cannot explain the observed patterns with the standard set of assumptions, and describe a case in which the model can be reconciled with the observed data.
主题International Economics ; International Finance ; International Macroeconomics
URLhttps://www.nber.org/papers/w8824
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/566431
推荐引用方式
GB/T 7714
Ron Alquist,Menzie D. Chinn. Productivity and the Euro-Dollar Exchange Rate Puzzle. 2002.
条目包含的文件
文件名称/大小 资源类型 版本类型 开放类型 使用许可
w8824.pdf(191KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Ron Alquist]的文章
[Menzie D. Chinn]的文章
百度学术
百度学术中相似的文章
[Ron Alquist]的文章
[Menzie D. Chinn]的文章
必应学术
必应学术中相似的文章
[Ron Alquist]的文章
[Menzie D. Chinn]的文章
相关权益政策
暂无数据
收藏/分享
文件名: w8824.pdf
格式: Adobe PDF
此文件暂不支持浏览

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。