emerging and advanced economies. We assess the impact of appreciations, productivity booms and capital flow surges using a … propensity-score matching approach to address causality issues. We show that appreciations associated with higher productivity …

According to the Balassa-Samuelson effect, productivity gains in the domestic tradable sector raise the relative price …-tradables but is more controversial about real exchange rate appreciation in response to productivity gains in tradables …

We propose a novel, multilaterally consistent productivity approach-based indicator to assess the international price … attention has been paid to an appropriate selection of price and productivity data in levels as opposed to indices, and to the …

emerging and advanced economies. We assess the impact of appreciations, productivity booms and capital inflows surges using a … propensity-score matching approach to address causality issues. We show that appreciations associated with higher productivity …

wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical … deviations of real exchange rates from the productivity-driven equilibrium path. Panel estimations for the period from 1995 to … evidence in favour of capital inflow-driven real wage increases in excess of productivity increases. …

data. We show that a productivity simulation is capable of explaining initial real appreciation with subsequent …