English, Article, Journal or magazine article edition: Employment and exchange rates: the role of openness and technology Fernando Alexandre; Pedro Bação; João Cerejeira; ...

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Bookmark: http://trove.nla.gov.au/version/120669
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Employment and exchange rates: the role of openness and technology
Author
  • Fernando Alexandre
  • Pedro Bação
  • João Cerejeira
  • Miguel Portela
Physical Description
  • preprint
Notes
  • Real exchange rate movements are important drivers of the reallocation of resources between sectors of the economy. Economic theory suggests that the impact of exchange rates should vary with the degree of exposure to internacional competition and with the technology level. This paper contributes by bringing together these two views, both theoretically and empirically. We show the both the degree of openness and the technology level mediate the impact of exchange rate movements on labour market developments. According to our estimations, whereas employment in high-technology sectors seems to be relatively immune to changes in real exchange rates, these appear to have sizable and significant effects on highly open low-technology sectors. The analysis of job flows suggests that the impact of exchange rates on these sectors occurs through employment destruction.
  • exchange rates; international trade; employment destruction.
  • RePEc:nip:nipewp:16/​2009
  • RePEc:mde:wpaper:0015
  • Real exchange rate movements are important drivers of the reallocation of resources between sectors of the economy. Economic theory suggests that the impact of exchange rates should vary with the degree of exposure to international competition and with the technology level. This paper contributes by bringing together these two views, both theoretically and empirically. We show that both the degree of openness and the technology level mediate the impact of exchange rate movements on labour market developments. According to our estimations, whereas employment in high-technology sectors seems to be relatively immune to changes in real exchange rates, these appear to have sizable and significant effects on highly open low-technology sectors. The analysis of job flows suggests that the impact of exchange rates on these sectors occurs through employment destruction.
  • exchange rates, international trade, job flows.
  • RePEc:gmf:wpaper:2009-08
Language
  • English
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