ECB paper emphasises productivity's role in export elasticity

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The ECB

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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