Productivity shocks and real exchange rates Export

@article{citeulike:1715921, abstract = {Previous studies have concluded that productivity shocks have negligible effects on real exchange rate fluctuations. This paper shows that when long-run equilibrium relationships between real exchange rate levels and fundamental variables are taken into account, relative productivity shocks account for most of the long-run movements in the real exchange rates. This can be interpreted as empirical support for the Balassa (1964. Journal of Political Economy 72, 584-596) and Samuelson (1964. Review of Economics and Statistics 46, 145-154) model where differences in relative productivity is the main source of long-run deviations for purchasing power parity.}, author = {Alexius, Annika}, citeulike-article-id = {1715921}, citeulike-linkout-0 = {http://dx.doi.org/10.1016/j.jmoneco.2004.07.003}, citeulike-linkout-1 = {http://www.sciencedirect.com/science/article/B6VBW-4FY9MFY-2/2/a216873bc9ac31315154be9cad403a77}, doi = {10.1016/j.jmoneco.2004.07.003}, journal = {Journal of Monetary Economics}, keywords = {exchange\_rate, ppp}, month = {April}, number = {3}, pages = {555--566}, posted-at = {2007-10-01 15:55:26}, priority = {2}, title = {Productivity shocks and real exchange rates}, url = {http://dx.doi.org/10.1016/j.jmoneco.2004.07.003}, volume = {52}, year = {2005} }

TY - JOUR ID - citeulike:1715921 L3 - citeulike-article-id:1715921 N2 - Previous studies have concluded that productivity shocks have negligible effects on real exchange rate fluctuations. This paper shows that when long-run equilibrium relationships between real exchange rate levels and fundamental variables are taken into account, relative productivity shocks account for most of the long-run movements in the real exchange rates. This can be interpreted as empirical support for the Balassa (1964. Journal of Political Economy 72, 584-596) and Samuelson (1964. Review of Economics and Statistics 46, 145-154) model where differences in relative productivity is the main source of long-run deviations for purchasing power parity. IS - 3 JF - Journal of Monetary Economics EP - 566 TI - Productivity shocks and real exchange rates VL - 52 SP - 555 KW - exchange_rate KW - ppp AU - Alexius, Annika PY - 2005/04// UR - http://dx.doi.org/10.1016/j.jmoneco.2004.07.003 ER -