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Price Convergence: What Can the Balassa-Samuelson Model Tell Us? (in English)

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Author Info

  • Martin Èihák
  • Tomáš Holub

Abstract

The article contributes to the theory of convergence in the price level and relative prices. The authors present a model integrating the Balassa-Samuelson model of real equilibrium exchange rate with a model of capital accumulation and with the demand side of the economy. They also show how the Balassa-Samuelson model can be extended to the case of more than two goods. The predictions of the Balassa-Samuelson model are generally consistent with empirical findings in Central and Eastern European countries. The authors show how the model can be used toward projecting price convergence in a transition economy.

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File URL: http://journal.fsv.cuni.cz/storage/943_03_334-355.pdf
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Bibliographic Info

Article provided by Charles University Prague, Faculty of Social Sciences in its journal Finance a uver - Czech Journal of Economics and Finance.

Volume (Year): 53 (2003)
Issue (Month): 7-8 (July)
Pages: 334-355

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Handle: RePEc:fau:fauart:v:53:y:2003:i:7-8:p:334-355

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Related research

Keywords: inflation; relative prices; Balassa-Samuelson model;

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Cited by:
  1. Luboš Komárek & Martin Motl, 2012. "Behavioural and Fundamental Equilibrium Exchange Rate of the Czech Koruna," Politická ekonomie, University of Economics, Prague, vol. 2012(2), pages 147-166.
  2. Martin Mandel & Vladimír Tomšík, 2008. "Real Exchange Rate of the Czech Koruna and the Prices of Non-tradable Goods and Services," Acta Oeconomica Pragensia, University of Economics, Prague, vol. 2008(3), pages 3-12.

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