01734cas a2200253 a 4500 AALejournalIMF003603 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451922516 1018-5941 BD-DhAAL BD-DhAAL Micossi, S. Real Exchange Rates and the Prices of Nontradable Goods / S. Micossi, Gian Milesi-Ferretti. Washington, D.C. : International Monetary Fund, 1994. 1 online resource (38 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper attempts to provide a perspective on real exchange rate developments following the inception of the EMS. The focus is on structural determinants of real exchange rates, notably the behavior of tradables and nontradable prices and productivity. It is found that changes in the relative price of tradable goods in terms of nontradables account for a sizable fraction of real exchange rate dynamics during the EMS period. Sectoral productivity growth differential help explain the behavior of the relative price of tradable goods, especially in the long run. There is also some evidence that the EMS has extended on relative price behavior. Mode of access: Internet Milesi-Ferretti, Gian. IMF Working Papers; Working Paper ; No. 1994/019 Full text available on IMF http://elibrary.imf.org/view/journals/001/1994/019/001.1994.issue-019-en.xml IMF e-Library