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The Contribution of Sectoral Productivity Differentials to Inflation in Greee

Heather Gibson () and Jim Malley ()

No 63, Working Papers from Bank of Greece

Abstract: This paper estimates the magnitude of the Balassa-Samuelson effect for Greece. We calculate the effect directly, using sectoral national accounts data, which permits estimation of total factor productivity (TFP) growth in the tradeables and nontradeables sectors. Our results suggest that it is difficult to produce one estimate of the BS effect. Any particular estimate is contingent on the definition of the tradeables sector and the assumptions made about labour shares. Moreover, there is also evidence that the effect has been declining through time as Greek standards of living have caught up on those in the rest of the world and as the non-tradeables sector within Greece catches up with the tradeables.

Keywords: Balassa-Samuelson effect; inflation; productivity (search for similar items in EconPapers)
JEL-codes: E31 F36 F41 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2007-11
New Economics Papers: this item is included in nep-cba, nep-eff and nep-mac
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http://www.bankofgreece.gr/BogEkdoseis/Paper200763.pdf Full Text (application/pdf)

Related works:
Journal Article: The Contribution of Sectoral Productivity Differentials to Inflation in Greece (2008) Downloads
Working Paper: The Contribution of Sectoral Productivity Differentials to Inflation in Greece (2007) Downloads
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