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A strong euro is less harmful to the most productive exporters
[Un euro fort pénalise moins les exportateurs très productifs]

Author

Listed:
  • Antoine Berthou

Abstract

The effects of the exchange rate on the exports of European firms depend to a large extent on their productivity. The exports of the most productive firms are less affected by exchange rate variations than those of the less productive firms. At the macroeconomic level, this tends to reduce the effects of the exchange rate on trade. Les effets du taux de change sur les exportations des entreprises européennes dépendent fortement de leur productivité. Les exportations des entreprises les plus productives réagissent moins au taux de change que celles des entreprises peu productives. À l’échelle macroéconomique, cela tend à réduire les effets du taux de change sur le commerce.

Suggested Citation

  • Antoine Berthou, 2017. "A strong euro is less harmful to the most productive exporters [Un euro fort pénalise moins les exportateurs très productifs]," Eco Notepad 38, Banque de France.
    • Handle: RePEc:bfr:econot:38
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