, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result …. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies …

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 …

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 external terms of trade, and productivity in the manufacturing sector. A once-and-for-all unit increase in the ratio …

between the United States and the rest of the world, this paper asks to what extent an asymmetric productivity shock in the … second half of the 1990s. The paper concludes that the Balassa-Samuelson effect of such a productivity shock is only part of …

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 …

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 …

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 …

We investigate the long-run relationship between the real exchange rate, traded and nontraded productivity levels, and … find that in 1991 (the last year productivity data are available) there is less overvaluation of the U.S. dollar than that …

US dollar real exchange rates, we derive long-run coefficients for relative productivity and competitiveness in the …