TY  - JOUR
AU  - Goldberg, Linda
AU  - Tracy, Joseph
TI  - Exchange Rates and Local Labor Markets
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 6985
PY  - 1999
Y2  - February 1999
DO  - 10.3386/w6985
UR  - http://www.nber.org/papers/w6985
L1  - http://www.nber.org/papers/w6985.pdf
N1  - Author contact info:
Linda S. Goldberg
Federal Reserve Bank-New York
33 Liberty Street
New York, NY 10045
Tel: 212/720-2836
Fax: 212/720-6831
E-Mail: linda.goldberg@ny.frb.org

Joseph Tracy
Executive Vice President
Federal Reserve Bank of Dallas
2200 N Pearl St
Dallas Texas 75201
Tel: 214/992-5996
E-Mail: joestracy@gmail.com
M1  - published as Linda Goldberg, Joseph Tracy. "Exchange Rates and Local Labor Markets," in Robert C. Feenstra, editor, "The Impact of International Trade on Wages" University of Chicago Press (2000)

AB  - We document the consequences of real exchange rate movements for the employment, hours, and hourly earnings of workers in manufacturing industries across individual states.  Exchange rates have statistically significant wage and employment implications in these local labor markets.  The importance and size of these dollar-induced effects vary considerably across industries and are more pronounced in some U.S. regions.  In addition to the importance of exchange rate shocks, we confirm prior research results showing that relatively strong local conditions drive up wage in local industries, while anticipated future (positive) local shocks reduce current wages.
ER  -