Égert, Balázs; Drine, Imed; Lommatzsch, Kirsten; … - 2003
This paper studies the Balassa-Samuelson effect in nine Central and East European countries. Using panel cointegration … misleading when analyzing the Balassa-Samuelson effect. Consequently, the appreciation of the real exchange rate, which has been … established as a stylized fact over the last decade, is caused only partly by the Balassa-Samuelson effect. We identify a trend …