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The purpose of this study is demonstrating why entrepreneurs should monitor the broad dollar index. This paper explains the reason why the broad dollar index has become a risk (leverage) gauge since 2008 using the Covered Interest Parity (CIP). CIP can be viewed as a reflection of the shadow...
Persistent link: https://www.econbiz.de/10013406442
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 …
Persistent link: https://www.econbiz.de/10013074886
In this paper, we explore empirically the role of openness, technology and labour market rigidity in the determination of the effect of the exchange rate on employment in Portugal. We develop an index that allows us to measure labour market flexibility at the sector level. This index shows that...
Persistent link: https://www.econbiz.de/10013136773
There is increasing evidence that the interaction between shocks and labour market institutions is crucial to understanding the dynamics of employment. In this paper, we show that the inclusion of labour adjustment costs in a trade model affects the impact of exchange rate movements on...
Persistent link: https://www.econbiz.de/10013144390
respect to intermediate import prices to theory uncovers evidence of a production complementarity between workers and … the findings add to widely expressed, growing concerns about poor productivity performance relating to skills and to …
Persistent link: https://www.econbiz.de/10012868799
Since the demise of the Bretton Woods system, the yen has seen several episodes of strong appreciation, including in the late 1970s, after the 1985 Plaza Agreement, the early and late 1990s and after 2008. These appreciations have not only been associated with "expensive yen recessions"...
Persistent link: https://www.econbiz.de/10012863763
Contrary to most existing studies of the literature that assumed that the effects of real exchange rate (RE) misalignment on trade flows are symmetric, this paper considers a more general and realistic framework allowing for possible asymmetric effects. We use monthly time-series data over the...
Persistent link: https://www.econbiz.de/10014083735
Economic theory has identified a number of channels through which openness to international financial flows could raise … productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output … growth, far less attention has been paid to its effects on productivity growth. This paper provides a comprehensive analysis …
Persistent link: https://www.econbiz.de/10013325040
Persistent link: https://www.econbiz.de/10001130485
Persistent link: https://www.econbiz.de/10001131588