This paper surveys the literature on the linkages between asset prices and macroeconomic
outcomes. It focuses on three major questions. First, what are the basic theoretical linkages …

Abstract The Great Financial Crisis of 2007-09 confirmed the vital importance of advancing
our understanding of macrofinancial linkages, the two-way interactions between the real …

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 …

The study employs system GMM to derive the benchmark impact of foreign direct investment
(FDI) on labor productivity (LP) as well as the interactive effects of FDI and productive …

Historical data for over hundred years and 14 countries is used to estimate the long-run
effect of productivity on the real exchange rate. We find large variations in the productivity …

A foreign exchange rate is the price at which one currency may be converted into another.
An exchange rate is an important aspect in a nation's international trade, balance of …

We estimate the effect of giant oil and gas discoveries on bilateral real exchange rates. A
giant discovery with the value of 10% of a country's GDP appreciates the real exchange rate …

The real effective exchange rate (RER) is inherently a general equilibrium variable and its
fluctuations are influenced by various factors. In addition to supply factors such as …

内容提要本文旨在研究发展中经济体在结构转型中如何削弱巴拉萨-萨缪尔森效应的作用.
本研究表明, 结构转型抑制了工资水平和不可贸易品价格随可贸易品部门生产率提高而上涨的 …

This paper reconsiders the Balassa-Samuelson (BS) hypothesis. We analyze an OECD
country panel from 1970 to 2008 and compare three data sets on sectoral productivity …