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Real Exchange Rates, Income per Capita, and Sectoral Input Shares

Cravino, Javier - 2017

Aggregate price levels are positively related to GDP per capita across countries. We propose a mechanism that rationalizes this observation through sectorial differences in intermediate input shares. As aggregate productivity and income grow, so do wages relative to intermediate input prices,...

Persistent link: https://www.econbiz.de/10012454977

National Price Levels and the Prices of Tradables and Nontradables

Kravis, Irving B. - 1988

This paper examines changes in national price levels and prices of tradables and nontradables and relates them to changes in variables found earlier to be associated with price level differences among countries. Across countries, national price levels increase systematically with the level of a...

Persistent link: https://www.econbiz.de/10012476531

Heterogeneous Frictional Costs Across Industries in Cross-border Mergers and Acquisitions

Blonigen, Bruce A. - 2016

While there has been significant research to explore the determinants (and frictions) of foreign direct investment (FDI), past literature primarily focuses on country-wide FDI patterns with little examination of sectoral heterogeneity in FDI. Anecdotally, there is substantial sectoral...

Persistent link: https://www.econbiz.de/10012456133

Real Exchange Rate Movements and the Relative Price of Non-traded Goods

Betts, Caroline M. - 2008

We study the quarterly bilateral real exchange rate and the relative price of non-traded to traded goods for 1225 country pairs over 1980-2005. We show that the two variables are positively correlated, but that movements in the relative price measure are smaller than those in the real exchange...

Persistent link: https://www.econbiz.de/10012464210

Explaining Product Price Differences Across Countries

Lipsey, Robert E. - 2007

A substantial part of international differences in prices of individual products, both goods and services, can be explained by differences in per capita income, wage compression, or low wage dispersion among low-wage workers, and short-term exchange rate fluctuations. Higher per capita income is...

Persistent link: https://www.econbiz.de/10012465414

Understanding PPPs and PPP-based national accounts

Deaton, Angus - 2008

, and economic historians. Frequently used global data come from the Penn World Table (PWT) and the World Bank's World … Development Indicators; a substantial fraction of the world is also covered in the PPP accounts produced by the OECD and the …; version 7.0 of the Penn World Table will soon incorporate these results. The 2005 ICP, like earlier rounds, involved …

Persistent link: https://www.econbiz.de/10012464148

Private Consumption, Nontraded Goods and Real Exchange Rate : A Cointegration_Euler Equation Approach

Lin, Kenneth S. - 1996

This paper presents an empirical study of real exchange rate movements from a consumer's perspective. Trade between two countries creates a link between real exchange rate and terms of trade. It is the private consumption of non-traded goods that induces an equilibrium relationship between real...

Persistent link: https://www.econbiz.de/10012473107

Accounting for U.S. Real Exchange Rate Changes

Engel, Charles - 1995

This study measures the proportion of U.S. real exchange rate movements that can be accounted for by movements in the relative prices of non-traded goods. The decomposition is done at all possible horizons that the data allow -- from one month up to thirty years. The accounting is performed with...

Persistent link: https://www.econbiz.de/10012473473

The Harrod-Balassa-Samuelson Hypothesis : Real Exchange Rates and their Long-Run Equilibrium

Chong, Yanping - 2010

Frictionless, perfectly competitive traded-goods markets justify thinking of purchasing power parity (PPP) as the main driver of exchange rates in the long-run. But differences in the traded/non-traded sectors of economies tend to be persistent and affect movements in local price levels in ways...

Persistent link: https://www.econbiz.de/10012462782

The Importance of Nontradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations

Burstein, Ariel - 2005

Persistent link: https://www.econbiz.de/10012466973

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