This folder contains files documenting replication of figures in article "Real Exchange Rates and Sectoral Productivity in the Eurozone" by Martin Berka, Michael B. Devereux and Charles Engel, forthcoming in the American Economic Review

Replications of Tables 

Table 1: Run replicate_table1.m (Matlab). Labor wedge statistics are added manually from EViews file replicate_tfp_tables.wf1

Table 2: Run replicate_table2.m (Matlab). The last column (AR(1) stats) are in EViews file replicate_tfp_tables.wf1

Table 3: EViews files replicate_table3.wf1 and replicate_table3_cross_section.wf1

Table 4: EViews files replicate_tfp_tables.wf1 and replicate_tfp_tables_cross_section.wf1

Table 5: same as Table 4

Table 7a: EViews files replicate_tfp_tables.wf1
Table 7b: See SummaryStats.xlsx. The AR(1) numbers are replicated in replicate_table7b.wf1. To do this for TFP, open and execute EViews program tfp_properties_program.prg, and for Labor wedge the "lwa_program.prg". In both cases, AR(1) coefficients will be stored in separate "coef" matrices (note: these are annual coefficients, which are then converted to equivalent quarterly coefficients in Excel). Standard deviations use saved residuals from these programs (saved in respective groups in EViews). See the Excel file SummaryStats.xlsx. The TFP index series used in 7b are constructed in "TFP_index_TNT_Table7b.m".

For the replication of tables that use model simulations, please see folder "Model".

Apendix tables

Table A2, A4, A7, A8, A9: See EViews files replicate_tfp_tables, and replicate_tfp_tables_cross_section, as appropriate. For model tables, see folder "Model".