The importance of nontradable goods' prices in cyclical real exchange rate fluctuations

The importance of nontradable goods' prices in cyclical real exchange rate fluctuations

by Ariel T. Burstein

Book 11699 of Working paper

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"Changes in the price of nontradable goods relative to tradable goods account for roughly 50 percent of the cyclical movements in real exchange rates"--National Bureau of Economic Research web site.

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