to the stock-flow approach and augmenting the monetary model with share prices and the country risk premium improves … commodity prices do not help explain the large depreciations. While these models do a reasonably good job in-sample, their out …

We find that productivity gains in tradables cause an appreciation of the real exchange rate via both tradable and … nontradable prices in the CEE-5 and have no affect in the Baltic countries, while they lead to a depreciation of the real exchange … rate of tradables in OECD economies that overcompensates the appreciation due to nontradable prices. Rising net foreign …

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 …

We use the elements of a macroeconomic production function—physical capital, human capital, labor, and technology … development. It affects human capital through both religious and secular education. It affects population and labor by influencing … work effort, fertility, and the demographic transition. And it affects total factor productivity by constraining or …

capacity utilization. Violence acts as a negative blue-collar labor supply shock, leading to significant increase in skill …

We investigate theoretically and empirically the role of wholesalers in mediating the productivity effects of trade … liberalization. Intermediaries provide indirect access to foreign produced inputs. The productivity effects of input tariff cuts on … firms experience productivity gains from reducing input tariffs if trade intermediation of foreign inputs within their …