example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. -- Exchange rates ; Productivity …

example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. …

realistic parameter values, the model generates a blip in inflation of the same magnitude observed in the data"--Federal Reserve …

Shifts in the underlying growth rate of productivity, such as occurred in the 1970s and the 1990s, are relatively rare … and difficult to identify in real time. In this paper, we document that economists' projections of trend productivity … simple updating rule based on an estimated Kalman filter model. We then examine the effects of shifts in trend productivity …