Real exchange rates and competitiveness: the political economy of skill formation, wage compression, and electoral systems
A major puzzle in the open economy literature is why some countries have persistently higher real exchange rates than others. Even more puzzling is the fact that countries with high real exchange rates are strong export performers. We solve both puzzles with a model that integrates two central debat...
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| Format: | Journal article |
| Language: | English |
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Cambridge University Press
2010
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