학술저널
Productivity and Real Exchange Rates
Productivity and Real Exchange Rates: Some Empirical Examples
- 세종대학교 경제통합연구소
- Journal of Economic Integration
- 제17권 제3호
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2002.09527 - 553 (27 pages)
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This paper examines the relevence of the Balassa-Samuelson productivity-bias hypothesis for explaning 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.
Ⅰ. Introduction
Ⅱ. Theoretical Background
Ⅲ. Methodology, Data, and Empirical Models
Ⅳ. Estimation Results
Ⅴ. Conclusions
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