The Importance of Nontradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations
Ariel T. Burstein
University of California, Los Angeles (UCLA) - Department of Economics
Northwestern University; National Bureau of Economic Research (NBER)
Sergio T. Rebelo
Northwestern University - Kellogg School of Management; Centre for Economic Policy Research (CEPR); University of Rochester - Department of Economics; National Bureau of Economic Research (NBER)
NBER Working Paper No. w11699
Changes in the price of nontradable goods relative to tradable goods account for roughly 50 percent of the cyclical movements in real exchange rates.
Number of Pages in PDF File: 15working papers series
Date posted: July 20, 2006
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