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The Behavior of Nontradable Goods Prices in Europe Evidence and Interpretation

This 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...

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Bibliographic Details
Main Author: De Gregorio, Jose
Other Authors: Krueger, Thomas, Giovannini, Alberto
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1993
Series:IMF Working Papers
Subjects:
Wages
Labor Productivity
Real Exchange Rates
Human Capital
Labor Market
Total Factor Productivity
Income Economics
Industrial Productivity
Production
Wages, Compensation, And Labor Costs: General
Foreign Exchange
Labor
Cost
Occupational Choice
Real Wages
Currency
Capacity
Macroeconomics
Labour
Capital And Total Factor Productivity
Labor Demand
Production And Operations Management
Skills
France
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This 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 United Kingdom
Physical Description:62 pages
ISBN:9781451974263

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