The real exchange rate of the dollar for a panel of OECD countries: Balassa-Samuelson or distribution sector effect?
Metadatos
Mostrar el registro completo del ítemcomunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
comunitat-uji-handle4:
INVESTIGACIONEste recurso está restringido
http://dx.doi.org/10.1016/j.jce.2008.07.004 |
Metadatos
Título
The real exchange rate of the dollar for a panel of OECD countries: Balassa-Samuelson or distribution sector effect?Autoría
Fecha de publicación
2008Editor
ElsevierISSN
1475967Cita bibliográfica
Journal of Comparative Economics, 36, 4, p. 620-632Tipo de documento
info:eu-repo/semantics/articlePalabras clave / Materias
Resumen
The purpose of this paper is to analyse the role of productivity in the behaviour of the real exchange rate of the dollar against the currencies of a group of OECD countries. To do this, a general specification is ... [+]
The purpose of this paper is to analyse the role of productivity in the behaviour of the real exchange rate of the dollar against the currencies of a group of OECD countries. To do this, a general specification is tested, with particular attention being paid to the breakdown of the productivity variable into tradables, non-tradables and distribution sector productivity. The applied technique relies on the pool mean group estimation methodology proposed by Pesaran et al. [Pesaran, M.H., Shin, Y., Smith, R.P., 1999. Pooled mean group estimation of dynamic heterogeneous panels, Journal of the American Statistical Association 94 (446), 621-634] to obtain error correction models in panels without imposing equal long-run and short-run parameters. The results point to the relevance of differences in the distribution sector productivity for the real exchange rate, especially in those countries that belong to the European Union. These results are in accordance with New Open Economy Macroeconomics models predictions as far as the role of both distribution sector productivity and fiscal expenditure on the real exchange rate are concerned. Journal of Comparative Economics 36 (4) (2008) 620-632. © 2008 Association for Comparative Economic Studies. [-]
Derechos de acceso
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/restrictedAccess
info:eu-repo/semantics/restrictedAccess
Aparece en las colecciones
- ECO_Articles [694]