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International Evidenceon Tradables and Nontradables Inflation
Author:
Holger C. Wolf null

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Mr. Alberto Giovannini null

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Mr. Jose De Gregorio null

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Series:
IMF Working Papers
Volume/Issue:
Volume 1994: Issue 033
Language:
English
Publication Date:
01 Mar 1994
DOI:
https://doi.org/10.5089/9781451979282.001
ISBN:
9781451979282
ISSN:
1018-5941
Pages:
36
Keywords:
WP; exchange rate; nontradable goods; core EMS economy; relative price; sector result; supply curve; oil price increase; Inflation; Productivity; Income; Total factor productivity; Exchange rate arrangements; Europe
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Using 1970-85 sectoral data for the OECD we find that inflation in nontradable good exceeds inflation in tradables. We identify a demand shift towards nontradables and faster growth of total factor productivity in the tradable goods sector as the prime causes of the differential inflation. In addition, disinflation attempts and the exchange rate regime appear to have exerted significant influence on the relative inflation rate.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund