, highlight instead the importance of total factor productivity surge induced by an undervaluation in increasing growth. …

across countries and sectors. On the other hand, opening to trade boosts individual firms’ productivity growth, via a number … of channels, and also enhances allocative efficiency across firms, in turn increasing aggregate productivity growth. One …

between the exchange rate and prices in Mexico and the US (its main commercial partner), there are other forces affecting the … former. The main factor in this relentless long-term depreciation is the loss of productivity in Mexico relative to the US …