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|z 9781451857252
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|a 1018-5941
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|a Lee, Jaewoo.
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|a Does Productivity Growth Lead to Appreciation of the Real Exchange Rate? /
|c Jaewoo Lee, Man-Keung Tang.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2003.
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|a 1 online resource (40 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a We revisit the time-honored link between productivity and the real exchange rate. Consistent with the traditional view, we find that higher labor productivity tends to lead to appreciation of the real exchange rate. Contrary to the traditional view, however, we find that the positive productivity effect is transmitted through the real exchange rate based on tradable prices, rather than through relative prices between tradables and nontradables. Moreover, higher total factor productivity is found, if anything, to lead to depreciation of the real exchange rate. These last two pieces of evidence provide support for the emerging view that limited tradability of goods and services provides scope for the strategic pricing decision, which has material consequences for the aggregate real exchange rate.
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|a Mode of access: Internet
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|a Tang, Man-Keung.
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|a IMF Working Papers; Working Paper ;
|v No. 2003/154
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2003/154/001.2003.issue-154-en.xml
|z IMF e-Library
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