The Relative Price of Non-traded Goods under Imperfect Competition

Javier Coto-Martinez and Juan Reboredo

Oxford Bulletin of Economics and Statistics, 2014, vol. 76, issue 1, 24-40

Abstract: type="main" xml:lang="en">

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.

Date: 2014
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