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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 …
Persistent link: https://www.econbiz.de/10014066682
We investigate the link between real exchange rates and sectoral total factor productivity measures for countries in … previous studies that have found little relationship between productivity levels and the real exchange rate among high …
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prices as a result of decreased trade costs. A decrease in trade costs enables lower-productivity firms to begin exporting … that low-productivity firms have more volatile markups …
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The paper explores the optimal monetary policy reaction to productivity shocks in an open economy. Whereas earlier …
Persistent link: https://www.econbiz.de/10014056752
recommendations to reduce the trade imbalances through productivity-enhancing reforms in advanced economies are likely to yield only …
Persistent link: https://www.econbiz.de/10012160788
recommendations to reduce the trade imbalances through productivity-enhancing reforms in advanced economies are likely to yield only …
Persistent link: https://www.econbiz.de/10012134287
This paper shows that a regional bias resulting from trade integration alters the transmission of a countryś monetary policy by shifting the burden of the exchange rate adjustment towards the less integrated trading partners. I first develop a simple model which illustrates how a concentration...
Persistent link: https://www.econbiz.de/10011490957