haku: @indexterm gifts / yhteensä: 45
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| Tekijä: | Torvik, R. |
| Otsikko: | Learning by doing and the Dutch disease |
| Lehti: | European Economic Review
2001 : FEB, VOL. 45:2, p. 285-306 |
| Asiasana: | FOREIGN EXCHANGE GIFTS EXCHANGE RATES |
| Kieli: | eng |
| Tiivistelmä: | This paper develops a model of learning by doing and the Dutch disease that extends the earlier literature in two ways. First, it is assumed that both the traded and the non-traded sector can contribute to learning. Second, it is assumed that there are learning spillovers between the sectors. It is shown that within such a model a foreign exchange gift results in a real exchange rate depreciation in the long run, due to a shift in the steady-state relative productivity between the traded and the non-traded sector. |
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