Discussion paper

DP5306 The Importance of Nontradeable Goods' Prices in Cyclical Real Exchange Rate Fluctuations

Changes in the price of nontradable goods relative to tradable goods account for roughly 50% of the cyclical movements in real exchange rates.

£6.00
Citation

Eichenbaum, M, S Rebelo and A Burstein (2005), ‘DP5306 The Importance of Nontradeable Goods' Prices in Cyclical Real Exchange Rate Fluctuations‘, CEPR Discussion Paper No. 5306. CEPR Press, Paris & London. https://cepr.org/publications/dp5306