We investigate the long-run relationship between the real exchange rate, traded and non-traded productivity levels, and …

This study evaluates the individual roles of monetary and productivity shocks in real exchange rate fluctuations under … suggests that common-trend innovations are ascribed mostly to productivity shocks, whereas transitory innovations are governed … by monetary shocks. The allowance for productivity shocks, however, appears insufficient to fully explain the high …

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 …

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 …

The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined …. Using sectoral output and employment data, relative prices and relative productivity levels are calculated for China … rates and relative productivity ratios, one finds a relationship for Japan, Malaysia, the Philippines. Only when augmenting …

In this paper the evidence for a productivity-based explanation for real exchange rate behavior of East Asian … real exchange rates and relative productivity ratios, one finds a relationship for Japan, Malaysia, and the Philippines … panel regressions incorporating productivity variables, as well as other demand side factors, are less encouraging, except …

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 …