Égert, Balázs; Lommatzsch, Kirsten; Lahrèche-Révil, … - 2007
We find that productivity gains in tradables cause an appreciation of the real exchange rate via both tradable and nontradable prices in the CEE-5 and have no affect in the Baltic countries, while they lead to a depreciation of the real exchange rate of tradables in OECD economies that...