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The Differential-Productivity Hypothesis and Purchasing-Power Parties: Some New Evidence

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Author Info
Heston, Alan
Nuxoll, Daniel A
Summers, Robert

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Abstract

The structure of prices of goods entering into international trade relative to those that do not plays a key role in the Balassa-Samuelson explanation of why countries' exchange rates differ systematically from their currencies' purchasing power. The B-S analysis leads to the proposition that the tradable-nontradable price difference is lower for rich countries than for poor. This paper examines the gap, using prices collected by the International Comparison Program. A variety of regressions were run to see if indeed the difference between tradable and nontradable price parities moved with income in the way B-S expected. They did. Copyright 1994 by Blackwell Publishing Ltd.

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Publisher Info
Article provided by Blackwell Publishing in its journal Review of International Economics.

Volume (Year): 2 (1994)
Issue (Month): 3 (October)
Pages: 227-43
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Handle: RePEc:bla:reviec:v:2:y:1994:i:3:p:227-43

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  1. Yihui Lan, 2003. "The Long-Term Behaviour of Exchange Rates, Part II: Aspects of Exchange-Rate Economics," Economics Discussion / Working Papers 03-06, The University of Western Australia, Department of Economics. [Downloadable!]
  2. Chung-Han Kim, 2000. "Balassa-Samuelson Theory And Predictability Of The Us/Uk Real Exchange Rate," International Economic Journal, Korean International Economic Association, vol. 14(3), pages 101-121, October. [Downloadable!] (restricted)
  3. Alcala, Francisco & Ciccone, Antonio, 2001. "Trade and Productivity," CEPR Discussion Papers 3095, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  4. Charalambos Pattichis & Mona Kanaan, 2004. "The Balassa-Samuelson Hypothesis and Oil Price Shocks in a Small Open Economy: Evidence from Cyprus," Open Economies Review, Springer, vol. 15(1), pages 45-56, January. [Downloadable!] (restricted)
  5. José García Solanes & Fernando Torrejón Flores, . "Testing the BalassA-Samuelson hypothesis in two different groups of countries: OECD and Latin America," Working Papers on International Economics and Finance 05-02, FEDEA. [Downloadable!]
  6. García Solanes, José & Torrejón Flores, Fernando, 2008. "The Balassa-Samuelson Hypothesis in Developed Countries and Emerging Market Economies: Different Outcomes Explained," Economics Discussion Papers 2008-14, Kiel Institute for the World Economy. [Downloadable!]
  7. Alan Heston, . "What Can Be Learned About the Economies of China and India from Purchasing Power Comparisons?," Indian Council for Research on International Economic Relations, New Delhi Working Papers 229, Indian Council for Research on International Economic Relations, New Delhi, India. [Downloadable!]
  8. García Solanes, José & Torrejón-Flores, Fernando, 2009. "The Balassa-Samuelson Hypothesis in Developed Countries and Emerging Market Economies: Different Outcomes Explained," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 3(2), pages 1-24. [Downloadable!]
  9. João Ricardo Faria & Miguel León-Ledesma, 2000. "Testing the Balassa-Samuelson Effect: Implications for Growth and PPP," Studies in Economics 0008, Department of Economics, University of Kent. [Downloadable!]
  10. P.H. Franses & D.J. van Dijk, 2002. "A simple test for PPP among traded goods," Econometric Institute Report 255, Erasmus University Rotterdam, Econometric Institute. [Downloadable!]
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  11. Reinhold Kosfeld & Hans-Friedrich Eckey & Matthias Türck, 2005. "New Economic Geography and Regional Price Level," Discussion Papers in Economics 78/05, University of Kassel, Institute of Economics. [Downloadable!]
  12. Kenneth W Clements & Yihui Lan & John Roberts, 2007. "Exchange-Rate Economics for the Resources Sector," Economics Discussion / Working Papers 07-13, The University of Western Australia, Department of Economics. [Downloadable!]
  13. Willem H. Buiter & Clemens Grafe, 2001. "Central Banking and the Choice of Currency Regime in Accession Countries," SUERF Studies, SUERF - The European Money and Finance Forum, number 11 edited by Morten Balling, October. [Downloadable!]
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