Productivity and the New Zealand Dollar: Balassa-Samuelson tests on sectoral data

Daan Steenkamp

No AN2013/01, Reserve Bank of New Zealand Analytical Notes series from Reserve Bank of New Zealand

Abstract: The Balassa-Samuelson hypothesis suggests that countries with a weak relative productivity performance should, over time, see a low or falling real exchange rate. This note uses detailed sectoral data to test the hypothesis over the period 1978-2006 and also fails to find any evidence of the expected effect.

Pages: 21 p.
Date: 2013-06
New Economics Papers: this item is included in nep-eff and nep-opm
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