This is a preview. Log in through your library . Abstract The real exchange rates of CEECs have been appreciating for the last decade, especially when measured by consumer prices. We argue that the ...

This is a preview. Log in through your library . Abstract This paper studies a form of Dutch Disease known as the Transfer Problem in developing countries. On the theoretical side we present a simple ...

Long-run cross-country price data exhibit a puzzle. Today, richer countries exhibit higher price levels than poorer countries, a stylized fact usually attributed to the "Balassa-Samuelson" effect. But ...

I qualitatively and quantitatively revisit the Balassa–Samuelson (BS) mechanism in the long run. Traditional panel regression specifications without time fixed effects are fragile, but adding time ...