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Explaining International Differences in the Prices of Tradables and Non-Tradables (with a New Zealand Perspective)
Falvey, Rodney E; Gemmell, Norman; Chang, Cherry; … - Victoria Business School, Victoria University of Wellington - 2014
The World Bank's International Comparison Program (ICP) data on national price levels for tradables and non-tradables … (and goods compared to services) reveals that New Zealand has relatively high prices of both tradables and non-tradables … observed international variations in non-tradables and tradables prices in general, and New Zealand's especially high prices in …
Persistent link: https://www.econbiz.de/10010904177
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The Determinants of Non-tradables Inflation
Jacobs, David; Williams, Thomas - In: RBA Bulletin (2014) September, pp. 27-38
This article examines the factors that explain inflation in prices of non-tradable items in the CPI. Non-tradable goods and services by definition have relatively little exposure to international competition. Consequently, their prices are more likely to be influenced by developments in the...
Persistent link: https://www.econbiz.de/10010949109
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Accounting for Market Distortions in an Integrated Investment Appraisal Framework
Bagzibagli, Kemal; Jenkins, Glenn P.; Semwaga, Octave - Economics Department, Queen's University - 2014
Public investments are key policy instruments used by governments in pursuing their overall development goals and strategies. Given the limited resources available to an economy, the chosen projects should fit into the overall development strategy, which usually concerns many stakeholder groups....
Persistent link: https://www.econbiz.de/10010958972
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The Balassa–Samuelson effect and pricing-to-market: The role of strategic complementarity
Bekkers, Eddy; Simonovska, Ina - In: Economics Letters 126 (2015) C, pp. 156-158
Combining Balassa–Samuelson effects with strategic complementarities between prices of tradables and non-tradables … yields a novel determinant of tradables’ prices. A larger productivity difference between tradables and non-tradables raises … the non-tradables’ price. With strategic complementarities, producers of tradables also increase prices. …
Persistent link: https://www.econbiz.de/10011189504
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The sectoral reallocation of government purchases as budgetary-neutral stabilisation tool: a model-based analysis
Hohberger, Stefan; Vogel, Lukas; Herz, Bernhard - In: International Economics and Economic Policy 12 (2015) 1, pp. 59-74
The paper uses a two-sector DSGE model with nominal and real rigidities to analyse the stabilising properties of fiscal policy rules in a small open economy in monetary union. The focus is on the potential of budgetary-neutral rules that adjust the composition of government purchases between...
Persistent link: https://www.econbiz.de/10011241865
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Working Paper 31a
Chinn, Menzie David - Oesterreichische Nationalbank - 1998
The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivity levels are calculated for China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore,...
Persistent link: https://www.econbiz.de/10010727668
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The Usual Suspects? Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates
Chinn, Menzie David - Oesterreichische Nationalbank - 1998
The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivity levels are calculated for China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore,...
Persistent link: https://www.econbiz.de/10005839490
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The Terms of Trade, Productivity Shocks, and The Current Account
Iscan, Talan B. - Department of Economics, Dalhousie University - 1998
This paper extends the analytical framework provided by Glick and Rogoff (JME 1995) to an economy with traded and nontraded goods, and it analyzes the impact of country- specific and global productivity shocks on the current account and investment. Each of these disturbances have different...
Persistent link: https://www.econbiz.de/10005086746
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Working Paper 138
Égert, Balázs - Oesterreichische Nationalbank - 2007
This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors influencing market and non-market-based service, house...
Persistent link: https://www.econbiz.de/10010727691
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Real Exchange Rates in Small Open OECD and Transition Economies: Comparing Apples with Oranges?
Égert, Balázs; Lommatzsch, Kirsten; Lahrèche-Révil, … - William Davidson Institute, University of Michigan - 2007
We find that productivity gains in tradables cause an appreciation of the real exchange rate via both tradable and … rate of tradables in OECD economies that overcompensates the appreciation due to nontradable prices. Rising net foreign …
Persistent link: https://www.econbiz.de/10005784615