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To What Extent Does Productivity Drive the Dollar?Cédric TilleGraduate Institute of International and Development Studies (HEI) Nicolas StoffelsSwiss National Bank Olga GorbachevColumbia University, Graduate School of Arts and Sciences, Department of Economics August 2001 Current Issues in Economics and Finance, Vol. 7. No. 8, August 2001 Abstract: The continuing strength of the dollar has fueled interest in the relationship between productivity and exchange rates. An analysis of the link between the dollar's movements and productivity developments in the United States, Japan, and the euro area suggests that productivity can account for much of the change in the external value of the dollar over the past three decades.
Number of Pages in PDF File: 6 Keywords: productivity, exchange rate JEL Classification: F31, F41 working papers seriesDate posted: April 26, 2005Suggested CitationContact Information
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