To What Extent Does Productivity Drive the Dollar?

6 Pages Posted: 26 Apr 2005  

Cédric Tille

Graduate Institute of International and Development Studies (HEI)

Nicolas Stoffels

Swiss National Bank

Olga Gorbachev

Columbia University, Graduate School of Arts and Sciences, Department of Economics

Date Written: 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.

Keywords: productivity, exchange rate

JEL Classification: F31, F41

Suggested Citation

Tille, Cédric and Stoffels, Nicolas and Gorbachev, Olga, To What Extent Does Productivity Drive the Dollar? (August 2001). Current Issues in Economics and Finance, Vol. 7. No. 8, August 2001. Available at SSRN: https://ssrn.com/abstract=711362 or http://dx.doi.org/10.2139/ssrn.711362

Cedric Tille (Contact Author)

Graduate Institute of International and Development Studies (HEI) ( email )

PO Box 136
Geneva, CH-1211
Switzerland

HOME PAGE: http://sites.google.com/site/cedrictilleheid/home

Nicolas Stoffels

Swiss National Bank ( email )

Economic Affairs
Boersenstrasse 15
Zurich, 8022
Switzerland
+41 44 631 3424 (Phone)
+41 44 631 3901 (Fax)

Olga Gorbachev

Columbia University, Graduate School of Arts and Sciences, Department of Economics ( email )

420 W. 118th Street
New York, NY 10027
United States

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