English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

This paper examines the evidence for a productivity- based model of the dollar/euro real exchange rate for the period 1985-2007. Cointegrating relationships between the real exchange rate and productivity, real price of oil and government spending are estimated using the Johansen and StockWatson procedures. The findings show that each percentage point in the U.S.-Euro area productivity differential results in a three and one-half percentage point real change in the dollar/euro valuation. This finding is robust to the estimation methodology, the variables included in the regression, and the sample period. I conjecture that productivity-based models cannot explain the observed patterns with the standard set of assumptions and describe cases in which the models can be reconciled with the observed data.

Productivity and the Dollar/Euro Real Exchange Rate Over the 1985-2007 Period