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International evidence on tradables and nontradables inflation

  • De Gregorio, Jose
  • Giovannini, Alberto
  • Wolf, Holger C.

Using 1970-1985 sectoral data for the OECD we find that inflation in nontradable goods is higher than in tradables, We identify a demand shift towards nontradables and faster growth of total factor productivity in the tradable goods sector as the prime causes of higher nontradables inflation. In addition. disinflation attempts and the exchange rate regime appear to have had significant influence on the relative inflation rate.

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File URL: http://www.sciencedirect.com/science/article/B6V64-45FCJ98-5/2/34398844df8ffa0b4ac0c383b52c352e
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Article provided by Elsevier in its journal European Economic Review.

Volume (Year): 38 (1994)
Issue (Month): 6 (June)
Pages: 1225-1244

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Handle: RePEc:eee:eecrev:v:38:y:1994:i:6:p:1225-1244
Contact details of provider: Web page: http://www.elsevier.com/locate/eer

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  3. Reuven Glick & Kenneth Rogoff, 1993. "Global Versus Country-Specific Productivity Shocks and the Current Acocount," Boston University - Institute for Economic Development 31, Boston University, Institute for Economic Development.
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  6. Hsieh, David A., 1982. "The determination of the real exchange rate : The productivity approach," Journal of International Economics, Elsevier, vol. 12(3-4), pages 355-362, May.
  7. Bhagwati, Jagdish N, 1984. "Why Are Services Cheaper in the Poor Countries?," Economic Journal, Royal Economic Society, vol. 94(374), pages 279-86, June.
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  9. Dornbusch, Rudiger, 1983. "Real Interest Rates, Home Goods, and Optimal External Borrowing," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 141-53, February.
  10. Bergstrand, Jeffrey H, 1991. "Structural Determinants of Real Exchange Rates and National Price Levels: Some Empirical Evidence," American Economic Review, American Economic Association, vol. 81(1), pages 325-34, March.
  11. Kenneth A. Froot & Kenneth Rogoff, 1991. "The EMS, the EMU, and the Transition to a Common Currency," NBER Chapters, in: NBER Macroeconomics Annual 1991, Volume 6, pages 269-328 National Bureau of Economic Research, Inc.
  12. Frenkel, Jacob A & Razin, Assaf, 1986. "Fiscal Policies in the World Economy," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 564-94, June.
  13. Jose De Gregorio & Thomas Krueger & Alberto Giovannini, 1993. "The Behavior of Nontradable Goods Prices in Europe: Evidence and Interpretation," IMF Working Papers 93/45, International Monetary Fund.
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