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Productivity and Real Exchange Rates:Some Empirical Examples

Author

Listed:
  • Irandoust, Manuchehr

    (University of Örebro)

  • Sjöö, Boo

    (University College of Skövde)

Abstract

This paper examines the relevance of the Balassa-Samuelson productivity-bias hypothesis for explaining long-run permanent shocks in the real exchange rates. The sample consists of yearly data on real exchange rates and productivity for six OECD countries. On the basis of Johansens maximum likelihood tests and VECMs, we find little support for the hypothesis. Our results provide a weak support for monetary integration in Europe.

Suggested Citation

  • Irandoust, Manuchehr & Sjöö, Boo, 2002. "Productivity and Real Exchange Rates:Some Empirical Examples," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 17, pages 527-553.
    • Handle: RePEc:ris:integr:0207
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    Cited by:

    1. Elkhan Richard Sadik-Zada, 2021. "Addressing the growth and employment effects of the extractive industries: white and black box illustrations from Kazakhstan," Post-Communist Economies, Taylor & Francis Journals, vol. 33(4), pages 402-434, May.

    More about this item

    Keywords

    Real Exchange Rate; Productivity Differential; Cointegration; Balassa-Samuelson’s Effect; Johansen’s Technique.;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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