Equilibrium Exchange Rates and Supply‐Side Performance

Abstract

Many people have helped us during this project in many different ways. We would like to thank Andrew Hauser for his detailed comments and constructive suggestions throughout the project. We thank Peter Andrews, Charlie Bean, Katharine Neiss, Kosuke Aoki, Rebecca Driver and John Rogers as well as two anonymous referees for their comments on the paper. To especially Luca Benati, but also to Alison Stuart, Marion Kohler, and John Power we are indebted for their help in gathering data for our calibration. We furthermore thank participants at seminars at the CCBS, Bank of England, University of Nottingham, NUI Maynooth, the Royal Economic Society Conference 2002 and the International Monetary Fund for helpful comments. All errors are the copyright of the authors. This paper represents the views and analysis of the authors and should not be thought to represent those of the Bank of England or Monetary Policy Committee members. Copies of working papers may be obtained from Publications Group, Bank of England,