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| Author: | Bergvall, A. |
| Title: | What determines real exchange rates? The Nordic countries |
| Journal: | Scandinavian Journal of Economics
2004 : VOL. 106:2, p. 315-337 |
| Index terms: | Cointegration Exchange rates Nordic countries |
| Language: | eng |
| Abstract: | The model derived in this paper yields testable implications concerning the long-run co-movements of real exchange rates, relative labour productivity, the trade balance and terms of trade. Countries with relatively higher output growth, trade deficits or improved terms of trade are found to have more appreciated real exchange rates, with the main channel of transmission working through the relative price on nontraded goods. |
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