The Behavior of Nontradable Goods Prices in Europe: Evidence and Interpretation
AbstractThis paper examines the evolution of the relative price between tradable and nontradable goods in a group of European countries. A model of an open economy is used to analyze different factors that can account for an increase in the relative price of nontradable goods. These factors are (a) faster technological progress in the tradable goods sector, (b) demand shifts toward nontradable goods, and (c) real wage pressures. The relevance of these factors is analyzed empirically for France, Germany, Italy, Spain, and the U.K. Copyright 1994 by Blackwell Publishing Ltd.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 93/45.
Date of creation: 01 May 1993
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Other versions of this item:
- De Gregorio, Jose & Giovannini, Alberto & Krueger, Thomas H, 1994. "The Behavior of Nontradable-Goods Prices in Europe: Evidence and Interpretation," Review of International Economics, Wiley Blackwell, vol. 2(3), pages 284-305, October.
- NEP-ALL-2013-02-16 (All new papers)
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