International Evidenceon Tradables and Nontradables Inflation

IMF Working Papers, March 1, 1994

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International Evidenceon Tradables and Nontradables Inflation

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Bibliographic details

• Authors: Holger C. Wolf, Alberto Giovannini, Jose De Gregorio
• Published: March 1, 1994
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451979282.001

Summary

• Title: International Evidenceon Tradables and Nontradables Inflation
• Authors: Holger C. Wolf, Alberto Giovannini, Jose De Gregorio
• Date: March 1, 1994
• Series: Working Paper No. 1994/033
• Pages: 36
• DOI: https://doi.org/10.5089/9781451979282.001
• Study sample period: Using 1970-85 sectoral data for the OECD.
• Note: Study based on 1970-84 sectoral data for the OECD.

Key findings

• Inflation in nontradable goods exceeds inflation in tradables (reported for OECD sectoral data 1970-85).
• Identified prime causes of the differential inflation:
  • A demand shift towards nontradables.
  • Faster growth of total factor productivity in the tradable goods sector.
• Additional influences on relative inflation rates:
  • Disinflation attempts.
  • The exchange rate regime.

Subject coverage and keywords

• Subject areas: Exchange rate arrangements, Expenditure, Foreign exchange, Income, Inflation, National accounts, Prices, Production, Productivity, Total factor productivity.
• Keywords: core EMS economy, Europe, exchange rate, Exchange rate arrangements, Income, Inflation, nontradable goods, oil price increase, Productivity, relative price, sector result, supply curve, Total factor productivity, WP.