Productivity, Tradability, and the Long-Run Price Puzzle
نویسندگان
چکیده
منابع مشابه
Productivity, Tradability, and the Long-Run Price Puzzle
Long-run cross-country price data exhibit a puzzle. Today, richer countries exhibit higher price levels than poorer countries, a stylized fact usually attributed to the “BalassaSamuelson” effect. But looking back fifty years, or more, this effect virtually disappears from the data. What is often assumed to be a universal property is actually quite specific to recent times. What might explain th...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2004
ISSN: 1556-5068
DOI: 10.2139/ssrn.563369