Abstract
During their decade-long haul towards the market economy, most of Central Europe’s transition economies have experienced a very rapid productivity growth, especially in their industrial sector. A first glance at some annual macroeconomic data suggests that this productivity bonanza have been accompanied by a surge in non-tradable relative prices and a substantial appreciation of their real exchange rate against the DEM and the US dollar.
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Égert, B. (2002). Inflation and the Real Exchange Rate in CEECs: Does Productivity Growth Really Matter?. In: Charemza, W.W., Strzała, K. (eds) East European Transition and EU Enlargement. Contributions to Economics. Physica, Heidelberg. https://doi.org/10.1007/978-3-642-57497-9_5
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DOI: https://doi.org/10.1007/978-3-642-57497-9_5
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-1501-6
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