that these appreciations reflect underlying productivity gains in the tradable sector. Using panel data over the period … 1993-98, the results show clear evidence of productivity-driven exchange rate movements in the central and eastern European … expect to experience further productivity-driven real exchange rate appreciations. Evidence from a large cross-section of non …

the same increase in the dual productivity growth (that is, the difference in productivity growth between the traded and … expected as a consequence of productivity convergence on the basis of the B-S effect …

Balassa-Samuelson model, namely that (i) productivity differentials determine the domestic relative price of nontradables and …. The evidence indicates that labor productivity differentials do explain long-run, cross-country differences in relative …

and productivity differentials, indicating that the relative PPP and Balassa-Samuelson effect are common inputs into …