example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. …

1970 to 2008 and compare three different datasets on sectoral productivity, including a newly constructed database on total … factor productivity. Overall, our DOLS estimation results do not support the BS hypothesis. For the last two decades, we find … a very robust negative relationship between the productivity in the tradable sector and the equilibrium real exchange …

Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the … real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample … argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We …

interdependencies between the terms of trade and economic growth are offered: the home market effect and the productivity shock effect …

We reappraise the relationship between productivity and equilibrium real exchange rates using a panel estimation … role of non-traded, as well as traded, sector productivity shocks in exchange rate determination. We find evidence of … significant correlation between real exchange rates and productivity differentials in both sectors. But our finding of a …

persistence typically proceed along two distinct paths, resorting either to the presence of real shocks such as productivity …

This paper analyzes the welfare implications of international spillovers related to productivity gains, changes in …-equilibrium model with monopolistic competition, drawing a distinction between productivity gains from manufacturing efficiency and …