Productivity and real exchange rates in the euro area

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F15%3A43907863" target="_blank" >RIV/62156489:43110/15:43907863 - isvavai.cz</a>

Výsledek na webu

<a href="http://mme2015.zcu.cz/downloads/MME_2015_proceedings.pdf" target="_blank" >http://mme2015.zcu.cz/downloads/MME_2015_proceedings.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Productivity and real exchange rates in the euro area

Popis výsledku v původním jazyce

According to the Balassa-Samuelson hypothesis, which is regularly used as an explanation for real exchange rate deviations from the Purchasing Power Parity, growth of productivity in the tradable sector leads (ceteris paribus) to real exchange rate appreciation. However the empirical evidence for the positive impact of growth in productivity of tradables on real exchange rate is at least mixed and depends on productivity proxies used to test this hypothesis. In our paper, we use a panel estimation framework to investigate the impact of labour productivity shocks on real effective exchange rates among individual euro area countries over the period 1999 - 2013. Besides the commonly used indicator of the overall tradable-sector productivity we also applya set of sector-specific indicators of labour productivity for agriculture, construction, manufacturing and services, which enables us to assess the impact of productivity shocks on real exchange rates stemming both from the tradable and

Název v anglickém jazyce

Productivity and real exchange rates in the euro area

Popis výsledku anglicky

According to the Balassa-Samuelson hypothesis, which is regularly used as an explanation for real exchange rate deviations from the Purchasing Power Parity, growth of productivity in the tradable sector leads (ceteris paribus) to real exchange rate appreciation. However the empirical evidence for the positive impact of growth in productivity of tradables on real exchange rate is at least mixed and depends on productivity proxies used to test this hypothesis. In our paper, we use a panel estimation framework to investigate the impact of labour productivity shocks on real effective exchange rates among individual euro area countries over the period 1999 - 2013. Besides the commonly used indicator of the overall tradable-sector productivity we also applya set of sector-specific indicators of labour productivity for agriculture, construction, manufacturing and services, which enables us to assess the impact of productivity shocks on real exchange rates stemming both from the tradable and

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

O - Projekt operacniho programu

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Mathematical Methods in Economics 2015: Conference Proceedings

ISBN

978-80-261-0539-8

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

659-664

Název nakladatele

Západočeská univerzita

Místo vydání

Plzeň

Místo konání akce

Cheb

Datum konání akce

9. 9. 2015

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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