Real Exchange Rates and Fundamentals: Evidence from 15 OECD Countries

被引：0

作者：

Annika Alexius

Jonny Nilsson

机构：

[1] Sveriges Riksbank,Economics Department

来源：

Open Economies Review | 2000年 / 11卷

关键词：

real exchange rates; Balassa–Samuelson model;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

In an extended Balassa–Samuelson model, long-run real exchange rates are determined by relative productivity and terms of trade. We present evidence of systematic long-run relationships between these fundamental variables and real exchange rates in a data set covering 15 OECD countries from 1960 to 1996. High relative productivity is associated with real exchange rate appreciations in most cases. There is less support for the hypothesis that the terms of trade affect equilibrium real exchange rates.

引用

页码：383 / 397

页数：14

共 28 条

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