productivity. It is found that changes in the relative price of tradable goods in terms of nontradables account for a sizable … fraction of real exchange rate dynamics during the EMS period. Sectoral productivity growth differential help explain the …

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

This paper explains in detail the construction of series for productivity in the traded and nontraded sectors for a … panel of 56 countries spanning 1989–2012. The level of productivity in each sector is defined as real value added per worker … more disaggregated industry source data; and (ii) it allows for meaningful comparisons of the level of productivity across …

, 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 …