Aggregate and sector-specific exchange rate indexes for the Portuguese economy
In this paper, we compute and compare aggregate and sector-specific exchange rate indexes for the Portuguese economy. We find that alternative effective exchange rate indexes are very similar between them. We also find that sector-specific effective exchange rates are strongly correlated with aggreg...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Coimbra University Press
2009-12-01
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| Series: | Notas Económicas |
| Online Access: | https://impactum-journals.uc.pt/notaseconomicas/article/view/3454 |
| _version_ | 1818245341110075392 |
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| author | Fernando Alexandre Pedro Bação João Cerejeira Miguel Portela |
| author_facet | Fernando Alexandre Pedro Bação João Cerejeira Miguel Portela |
| author_sort | Fernando Alexandre |
| collection | DOAJ |
| description | In this paper, we compute and compare aggregate and sector-specific exchange rate indexes for the Portuguese economy. We find that alternative effective exchange rate indexes are very similar between them. We also find that sector-specific effective exchange rates are strongly correlated with aggregate indexes. Nevertheless, we show that sector-specific exchange rates are more informative than aggregate exchange rates in explaining changes in employment: whereas aggregate indexes are statistically insignificant in employment equations, regressions using sector-specific exchange rate indexes show a statistically significant and economically large effect of exchange rates on employment. |
| first_indexed | 2024-12-12T14:31:22Z |
| format | Article |
| id | doaj.art-d4095a29754f49588154327c8c11d054 |
| institution | Directory Open Access Journal |
| issn | 0872-4733 2183-203X |
| language | English |
| last_indexed | 2024-12-12T14:31:22Z |
| publishDate | 2009-12-01 |
| publisher | Coimbra University Press |
| record_format | Article |
| series | Notas Económicas |
| spelling | doaj.art-d4095a29754f49588154327c8c11d0542022-12-22T00:21:30ZengCoimbra University PressNotas Económicas0872-47332183-203X2009-12-013010.14195/2183-203X_30_1Aggregate and sector-specific exchange rate indexes for the Portuguese economyFernando Alexandre0Pedro BaçãoJoão CerejeiraMiguel PortelaUniversidade de CoimbraIn this paper, we compute and compare aggregate and sector-specific exchange rate indexes for the Portuguese economy. We find that alternative effective exchange rate indexes are very similar between them. We also find that sector-specific effective exchange rates are strongly correlated with aggregate indexes. Nevertheless, we show that sector-specific exchange rates are more informative than aggregate exchange rates in explaining changes in employment: whereas aggregate indexes are statistically insignificant in employment equations, regressions using sector-specific exchange rate indexes show a statistically significant and economically large effect of exchange rates on employment.https://impactum-journals.uc.pt/notaseconomicas/article/view/3454 |
| spellingShingle | Fernando Alexandre Pedro Bação João Cerejeira Miguel Portela Aggregate and sector-specific exchange rate indexes for the Portuguese economy Notas Económicas |
| title | Aggregate and sector-specific exchange rate indexes for the Portuguese economy |
| title_full | Aggregate and sector-specific exchange rate indexes for the Portuguese economy |
| title_fullStr | Aggregate and sector-specific exchange rate indexes for the Portuguese economy |
| title_full_unstemmed | Aggregate and sector-specific exchange rate indexes for the Portuguese economy |
| title_short | Aggregate and sector-specific exchange rate indexes for the Portuguese economy |
| title_sort | aggregate and sector specific exchange rate indexes for the portuguese economy |
| url | https://impactum-journals.uc.pt/notaseconomicas/article/view/3454 |
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