This paper seeks to investigate the transmission mechanisms linking productivity to the real exchange rate in the … former Yugoslav Republic of Macedonia. At first glance, the stylized facts-low labor productivity growth and a trend real …

This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms …-based real exchange rate and commodity terms of trade. The estimated impact of productivity growth differentials between traded …

productivity and monetary policy. We identify a condition under which these asset prices become more volatile without affecting the … to productivity shocks. The model we set up does well at matching second moments of exchange rate and equity returns for …

developing countries. The paper finds that the traded-nontraded productivity differential is a significant determinant of the …

-related income, productivity and net foreign assets, but, at odds with the conventional wisdom, depreciates with higher government …

This paper emphasizes the importance of total factor productivity (TFP) developments in the nontradables sector to …

We revisit the time-honored link between productivity and the real exchange rate. Consistent with the traditional view …, we find that higher labor productivity tends to lead to appreciation of the real exchange rate. Contrary to the … traditional view, however, we find that the positive productivity effect is transmitted through the real exchange rate based on …

This paper examines the impact of productivity shocks on real exchange rate fluctuations in a dynamic international … statistically significant relationship exists between bilateral real exchange rates and international productivity differentials in …