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|Title:||The relative price of non-traded goods under imperfect competition|
|Citation:||Oxford Bulletin of Economics and Statistics, 76(1), 24 - 40, 2014|
|Abstract:||We consider the role of imperfect competition in explaining the relative price of non-traded to traded goods within the Balassa–Samuelson framework. Under imperfect competition in these two sectors, relative prices depend on both productivity and mark-up differentials. We test this hypothesis using a panel of sectors for 12 OECD countries. The empirical evidence suggests that relative price movements are well explained by productivity and mark-up differentials.|
|Description:||This article is available open access through the publisher’s website. Copyright @ 2012 The Department of Economics, University of Oxford.|
|Appears in Collections:||Economics and Finance|
Dept of Economics and Finance Research Papers
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