ECB paper emphasises productivity's role in export elasticity
Including productivity doubles impact
Productivity is important in assessing the elasticity of exports to changes in the exchange rate, but other factors exert influence too, according to a working paper published today (June 9) by the European Central Bank (ECB).
The paper's main contribution, authors Calin-Vlad Demian and Filippo di Mauro say, is its analysis of a "novel" dataset of productivity statistics for 22 sectors in 10 European countries over 11 years. Their paper, The exchange rate, asymmetric shocks and asymmetric
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