Since 2014
Productividad y Tipo de Cambio Real de Largo Plazo
Economic Analysis Review
View Archive Info| Field | Value | |
| Title |
Productividad y Tipo de Cambio Real de Largo Plazo
Productividad y Tipo de Cambio Real de Largo Plazo |
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| Creator |
Valdés, Rodrigo
Délano, ValentÃn |
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| Description |
This paper analyzes the relationship between productivity growth differentials and real exchange rate (RER) in Chile using three alternative methods. First, it calibrates with Chilean data a simple RER model that includes Balassa-Samuelson effect. Second, it uses time series data to estimate cointegrating vectors between RER and its fundamentals, including productivity differentials. Third, using a panel of 92 countries and data form 1960 to 1990, it studies the international evidence about the relationship between productivity and RER. The three methods yield surprisingly similar results. Explicitly considering the way in which the RER is measured in Chile, the paper shows that that the annual appreciation due to productivity growth differential in Chile during the period 1990-1997 is between 0.7 and 0.9% per annum.
This paper analyzes the relationship between productivity growth differentials and real exchange rate (RER) in Chile using three alternative methods. First, it calibrates with Chilean data a simple RER model that includes Balassa-Samuelson effect. Second, it uses time series data to estimate cointegrating vectors between RER and its fundamentals, including productivity differentials. Third, using a panel of 92 countries and data form 1960 to 1990, it studies the international evidence about the relationship between productivity and RER. The three methods yield surprisingly similar results. Explicitly considering the way in which the RER is measured in Chile, the paper shows that that the annual appreciation due to productivity growth differential in Chile during the period 1990-1997 is between 0.7 and 0.9% per annum. |
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| Publisher |
Universidad Alberto Hurtado - Facultad de Economía y Negocios
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| Contributor |
—
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| Date |
2010-03-07
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
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| Format |
application/pdf
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| Identifier |
http://www.rae-ear.org/index.php/rae/article/view/107
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| Source |
Revista de Análisis Económico - Economic Analysis Review; Vol 14, No 1 (1999); 3-21
Revista de Análisis Económico – Economic Analysis Review; Vol 14, No 1 (1999); 3-21 0718-8870 0716-5927 |
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| Language |
spa
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| Relation |
http://www.rae-ear.org/index.php/rae/article/view/107/206
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