Labor Productivity and Real Exchange Rate : The Balassa-Samuelson Disconnect in the former Yugoslav Republic of Macedonia / Boileau Loko, Anita Tuladhar.

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Bibliographic Details
Online Access: Full Text (via IMF e-Library)
Main Author: Loko, Boileau
Other Authors: Tuladhar, Anita
Format: eBook
Language:English
Published: Washington, D.C. : International Monetary Fund, 2005.
Series:IMF working paper ; WP/2005/113.

MARC

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520 3 |a This paper seeks to investigate the transmission mechanisms linking productivity to the real exchange rate in the former Yugoslav Republic of Macedonia. At first glance, the stylized facts-low labor productivity growth and a trend real depreciation-suggest that a Balassa- Samuelson effect is in play. We find that the relationship between the two is not a result of the traditional Balassa-Samuelson effect. Instead, the depreciation of the real exchange rate reflects mainly the behavior of prices in the tradable sector. We argue that the depreciating real exchange rate may reflect a prolonged transition associated with slow technological growth and the low quality of the country's tradable-goods basket. 
588 |a Description based on print version record. 
700 1 |a Tuladhar, Anita. 
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