Cumby, Robert; Diba, Behzad; Canzoneri, Matthew; Eudey, Gwen - Oesterreichische Nationalbank - 1998
The price of home goods relative to traded goods has risen faster in countries like Belgium, Italy, and Spain than it has in Germany. The observed relative-price trends are in line with sectoral trends in relative labor productivity. A neoclassical model with marginal-cost pricing, long run...
