{
  "title": "International Evidenceon Tradables and Nontradables Inflation",
  "publication": "IMF Working Papers, March 1, 1994",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/international-evidenceon-tradables-and-nontradables-inflation-1244",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2016/12/30/international-evidenceon-tradables-and-nontradables-inflation-1244",
  "overlayPath": "/en/publications/wp/issues/2016/12/30/international-evidenceon-tradables-and-nontradables-inflation-1244/index.md",
  "summary": "Using 1970-85 sectoral data for the OECD we find that inflation in nontradable good exceeds inflation in tradables. We identify a demand shift towards nontradables and faster growth of total factor productivity in the tradable goods sector as the prime causes of the differential inflation.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Title: International Evidenceon Tradables and Nontradables Inflation\n- Authors: Holger C. Wolf, Alberto Giovannini, Jose De Gregorio\n- Date: March 1, 1994\n- Series: Working Paper No. 1994/033\n- Pages: 36\n- DOI: https://doi.org/10.5089/9781451979282.001\n- Study sample period: Using 1970-85 sectoral data for the OECD.\n- Note: Study based on 1970-84 sectoral data for the OECD."
    },
    {
      "heading": "Key findings",
      "content": "- Inflation in nontradable goods exceeds inflation in tradables (reported for OECD sectoral data 1970-85).\n- Identified prime causes of the differential inflation:\n  - A demand shift towards nontradables.\n  - Faster growth of total factor productivity in the tradable goods sector.\n- Additional influences on relative inflation rates:\n  - Disinflation attempts.\n  - The exchange rate regime."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject areas: Exchange rate arrangements, Expenditure, Foreign exchange, Income, Inflation, National accounts, Prices, Production, Productivity, Total factor productivity.\n- 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.\n\n---\n\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/international-evidenceon-tradables-and-nontradables-inflation-1244"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2016/12/30/international-evidenceon-tradables-and-nontradables-inflation-1244/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2016/12/30/international-evidenceon-tradables-and-nontradables-inflation-1244/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2016/12/30/international-evidenceon-tradables-and-nontradables-inflation-1244/bundle-manifest.json)",
    "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",
    "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.",
    "Inflation in nontradable goods exceeds inflation in tradables (reported for OECD sectoral data 1970-85).",
    "Identified prime causes of the differential inflation:",
    "Additional influences on relative inflation rates:",
    "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."
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2016/12/30/international-evidenceon-tradables-and-nontradables-inflation-1244/index.md",
    "json": "/en/publications/wp/issues/2016/12/30/international-evidenceon-tradables-and-nontradables-inflation-1244/index.json",
    "bundleManifest": "/en/publications/wp/issues/2016/12/30/international-evidenceon-tradables-and-nontradables-inflation-1244/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-17T06:47:30.122Z"
}