Please use this identifier to cite or link to this item: http://hdl.handle.net/1822/12198

TitleAggregate and sector-specific exchange rate indexes for the Portuguese economy
Author(s)Alexandre, Fernando
Bação, Pedro
Cerejeira, João
Portela, Miguel
KeywordsExchange rates
International trade
Employment
EMU
Issue dateDec-2009
JournalNotas Económicas
Citation"Notas Económicas". ISSN 0872-4733. 30 (Dez. 2009) 6-28.
Abstract(s)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.
TypeArticle
URIhttp://hdl.handle.net/1822/12198
ISSN0872-4733
Publisher versionhttp://notas-economicas.fe.uc.pt/texts/ne030n0199.pdf
Peer-Reviewedyes
AccessOpen access
Appears in Collections:NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica

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