The value of a country's currency is often considered as the most important price in the
economy. Exchange‐rate changes can significantly affect the profitability of exporters, the …

The real exchange rate (RER) measures relative price levels across countries, capturing
deviations from purchasing power parity (PPP). RER is a key variable in international …

In this paper, we use a unique dataset on the distribution of output and demand across
regions of the United States to construct measures of trade costs for 969 service and …

We examine the effects of unilateral structural reforms within a currency union. Focusing on
the surge of German competitiveness following the introduction of the Euro, we first provide …

Abstract Building upon a Behavioural Equilibrium Exchange Rate model, estimated at a
quarterly frequency since 1999 on a broad sample of 57 countries, this paper assesses both …

The Mussa (1986) puzzle is the observation of a sharp and simultaneous increase in the
volatility of both nominal and real exchange rates following the end of the Bretton Woods …

Historical data for over hundred years and 14 countries is used to estimate the long-run
effect of productivity on the real exchange rate. We find large variations in the productivity …

We develop a model economy that has many of the features of Lewis (1954) but that also
includes an in-between sector as described by Lewis (1979). Our model underscores the …

This paper provides new empirical evidence about the relationship that may exist between
real exchange rates and commodity prices in develo** countries that are specialized in …

The behavior of real exchange rate remained an important policy concern for small open
economies as its poor management adversely affects their economy with substantial welfare …