منابع مشابه
Relative Prices and Relative Prosperity
The positive correlation between real (PPP) investment rates and levels of PPP income across countries is one of the most robust findings of the empirical growth literature. We show that this relationship is almost entirely driven by differences in the price of investment relative to output, rather than by differences in nominal investment rates. When measured in nominal terms (i.e., at nationa...
متن کاملNber Working Paper Series Relative Prices and Relative Prosperity
helpful comments. The views expressed herein are those of the authors and not necessarily those of the National Bureau of Economic Research. All rights reserved. Short sections of text not to exceed two paragraphs, may be quoted without explicit permission provided that full credit including ©notice, is given to the source. ABSTRACT The positive correlation between PPP investment rates and PPP ...
متن کاملRemittances and Relative Prices
Using Mexican data, this article analyzes the impact of the workers’ remittances on the cross-section distribution of prices as well as on the evolution of individual relative prices over time for 272 consumer items. The results suggest that there are important differences in the responses of relative prices to remittances according to various categories of these items. While the relative price...
متن کاملDiscounting and relative prices
Environmentalists are often upset at the effect of discounting costs of future environmental damage, e.g., due to climate change. An often-overlooked message is that we should discount costs but also take into account the increase in the relative price of the ecosystem service endangered. The effect of discounting would thus be counteracted, and if the rate of price rise of the item was fast en...
متن کاملRelative Goods’ Prices and Pure Inflation
This paper uses a dynamic factor model for the quarterly changes in consumption goods’ prices to separate them into three components: idiosyncratic relative-price changes, aggregate relative-price changes, and changes in the unit of account. The model identifies a measure of “pure” inflation: the common component in goods’ inflation rates that has an equiproportional effect on all prices and is...
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2007
ISSN: 0002-8282
DOI: 10.1257/aer.97.3.562