Real Exchange Rates and the Prices of Nontradable Goods:

This paper attempts to provide a perspective on real exchange rate developments following the inception of the EMS. The focus is on structural determinants of real exchange rates, notably the behavior of tradables and nontradable prices and productivity. It is found that changes in the relative pric...

Full description

Saved in:
Bibliographic Details
Main Author: Micossi, S. (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 1994
Series:IMF Working Papers Working Paper No. 94/19
Online Access:UBW01
UEI01
LCO01
SBR01
UER01
SBG01
UBG01
FAN01
UBT01
FKE01
UBY01
UBA01
FLA01
UBM01
UPA01
UBR01
FHA01
FNU01
BSB01
TUM01
Volltext
Summary:This paper attempts to provide a perspective on real exchange rate developments following the inception of the EMS. The focus is on structural determinants of real exchange rates, notably the behavior of tradables and nontradable prices and productivity. It is found that changes in the relative price of tradable goods in terms of nontradables account for a sizable fraction of real exchange rate dynamics during the EMS period. Sectoral productivity growth differential help explain the behavior of the relative price of tradable goods, especially in the long run. There is also some evidence that the EMS has extended on relative price behavior
Physical Description:1 Online-Ressource (38 p)
ISBN:1451922515
9781451922516

There is no print copy available.

Interlibrary loan Place Request Caution: Not in THWS collection! Get full text