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Intra-national Purchasing Power Parity and Balassa--Samuelson Effects in Italy

  • Andrea Vaona

Considering a sample of 71 Italian metropolitan areas, this paper goes beyond the assumption that a unique core inflationary process exists in a macroeconomy. It shows that local long-run inflation rates can display remarkable variability. On the one hand they are negatively correlated with productivity growth; on the other, the less competitive the local retail sector, the higher is long-run inflation. Parité de pouvoir d'achat intranational et effets Balassa--Samuelson en Italie R ésumé La présente communication, qui examine un échantillon de 71 zones métropolitaines en Italie, va au-del� de l'hypoth�se de l'existence, dans une macroéconomie, d'un processus unique d'inflation de base. Elle démontre que les taux d'inflation locaux de longue durée font preuve parfois d'une variabilité remarquable: d'un c�té, ils sont en corrélation négative avec l'expansion de la productivité, de l'autre moins le secteur local du commerce au détail est compétitif, plus l'inflation � long terme est élevée. Paridad de poder adquisitivo intranacional y efectos Balassa--Samuelson en Italia E xtracto Este trabajo, que considera una muestra de 71 �reas metropolitanas italianas, va m�s all� de suponer que dentro de una macroeconomía existe un �nico proceso inflacionario b�sico. Muestra que los índices locales de inflaci�n a largo plazo pueden exhibir una variabilidad significativa. Por una parte, se correlacionan negativamente con el crecimiento de la productividad; por otra parte, cuanto menos competitivo es el sector minorista local, m�s alta es la inflaci�n a largo plazo.

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File URL: http://hdl.handle.net/10.1080/17421772.2011.586720
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Article provided by Taylor & Francis Journals in its journal Spatial Economic Analysis.

Volume (Year): 6 (2011)
Issue (Month): 3 (April)
Pages: 291-309

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Handle: RePEc:taf:specan:v:6:y:2011:i:3:p:291-309
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  1. Takashi Senda & Julie K Smith, 2008. "Inflation History And The Sacrifice Ratio: Episode-Specific Evidence," Contemporary Economic Policy, Western Economic Association International, vol. 26(3), pages 409-419, 07.
  2. Miles, Daniel & Mora, Juan, 2003. "On the performance of nonparametric specification tests in regression models," Computational Statistics & Data Analysis, Elsevier, vol. 42(3), pages 477-490, March.
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