Relative Prices and Sectoral Labor Productivity Differentials:A long-run Analysis for Greece
This paper investigates empirically the long-run linkages between sectoral relative prices and labor productivities implied by the Balassa (1964) ans Samuelson (1964) framework. The role of wage non-homogeneity across sectors is explored by incorporating sectoral wages into the analysis.The results of the cointegration methodology fail to establish the existence of a stable long-run relationship.
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Volume (Year): 4 (2000)
Issue (Month): 2 (Winter)
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