Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/30200
Título: | The Portuguese real exchange rate, 1995-2010 : competitiveness or price effects? |
Autor(es): | Freitas, Miguel Lebre de Castro, Miguel de Faria e |
Palavras-chave: | Real exchange rate FERER Unit labor costs |
Data: | 2014 |
Editora: | Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE) |
Resumo(s): | We disentangle the extent to which the real exchange rate appreciation in Por- tugal during 1995-2010 re ected the emergence of wage-productivity misalignments or, instead, changes in the relative price of tradable and non-tradable goods. The available data suggests that the latter e ect dominated at the aggregate level. The evidence is consistent with the view that the external imbalance that character- ized the Portuguese economy during the 1990s and early 2000s was triggered by the liberalization of capital ows, and not by dysfunctional wage setting institu- tions. Using the Fundamental Equilibrium Exchange Rate approach, we nd that recent oil price shocks played an important role in explaining the real exchange rate overvaluation in Portugal. |
Tipo: | Documento de trabalho |
URI: | https://hdl.handle.net/1822/30200 |
Versão da editora: | http://www.nipe.eeg.uminho.pt/Uploads/WP_2014/NIPE_WP_12_2014.pdf |
Arbitragem científica: | yes |
Acesso: | Acesso aberto |
Aparece nas coleções: | NIPE - Documentos de Trabalho |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
---|---|---|---|---|
NIPE_WP_12_2014.pdf | NIPE WP 12/2014 | 1,11 MB | Adobe PDF | Ver/Abrir |