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Replication data for: Real Exchange Rates and Sectoral Productivity in the Eurozone

Resource Type
  • Berka, Martin
  • Devereux, Michael B.
  • Engel, Charles
Publication Date
  • Abstract

    We investigate the link between real exchange rates and sectoral TFP for eurozone countries. We show that real exchange rate variation, both cross-country and time-series, closely accords with an amended Balassa-Samuelson interpretation, incorporating sectoral productivity shocks and a labor market wedge. We construct a DSGE model to generate a cross section and time series of real exchange rates to compare to data. Estimates from simulated regressions are very similar to estimates for eurozone data. Our findings contrast with previous studies that have found little relationship between productivity and real exchange rates among high-income countries that have floating nominal exchange rates.
  • Is supplement to
    DOI: 10.1257/aer.20151045 (Text)
  • Berka, Martin, Michael B. Devereux, and Charles Engel. “Real Exchange Rates and Sectoral Productivity in the Eurozone.” American Economic Review 108, no. 6 (June 2018): 1543–81.
    • ID: 10.1257/aer.20151045 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Berka, Martin; Devereux, Michael B.; Engel, Charles (2018): Replication data for: Real Exchange Rates and Sectoral Productivity in the Eurozone. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset.