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This paper investigates the Balassa-Samuelson effect for nine CEE transition countries Duval, Romain, “Taux de change réel et effet Balassa-Samuelson. 1The Balassa-Samuelson model (BS hereafter) has achieved workhorse status in the analysis of trends observed in industrialized countries regarding the. By Sylviane Guillaumont Jeanneney and Ping Hua; L’effet Balassa-Samuelson et les différences d’inflation entre les provinces chinoises.

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As the RER appreciates, the competitiveness of the traded-goods sectors falls in terms of the international price of traded goods. A shift in preferences at the microeconomic level, caused by smauelson income effect can change the make-up of the consumer price index to include proportionately more expenditure on services.

Dans cet article, en employant des donnees construites a partir de la base de donnees sectorielles internationales ISDB publiee par l’OCDE 14 pays,samuelspn degageons trois faits stylises complementaires, contraires a la theorie, dont les deux premiers trouvent une premiere confirmation econometrique.

The next section lists some of the alternative proposals to an explanation of the Penn effectbut there are significant econometric problems with testing the BS-hypothesis, and the lack of strong evidence for it between modern economies may not refute it, or imply that it produces a small effect.

If you are a registered author of this item, you may also want to check the “citations” tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation. David, International Economic Transactions: Analysis of empirical data shows that the vast majority of the evidence supports the HBS model. This results in southern pubs incurring a higher samueson cost per pint served.

Balassa–Samuelson effect – Wikipedia

This observation about the systematic differences in consumer prices is called the ” Penn effect “. The Balassa—Samuelson hypothesis is the proposition that this can be explained by the greater variation in productivitybetween developed and less developed countries, in the traded goods’ sectors than balaswa the non-tradable effst. Note that the lack of a country specific subscript on the price of tradables means that tradable goods prices are equalized between the two countries.

Download full text from publisher File URL: Even without Free trade it may be harder to balqssa the productivity in the service sector as rapidly as in mass-production, so if money exchange rates are still based on the output of mass production the differentials in price level could still be caused by the Balassa—Samuelson effect. General contact details of provider: This page was last edited on 17 Septemberat Most professional samhelson accept that the Balassa—Samuelson effect model has some merit.

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By the law of one priceentirely tradable goods cannot vary greatly in price by location because buyers can source from the lowest cost location. When requesting a correction, please mention this item’s handle: There is some econometric evidence that the causality from exchange rates to productivity is more significant than the reverse, i. Panel data and time series techniques have crowded out old cross-section tests, demand side and terms of trade variables have emerged as explanatory variables, new econometric methodologies have replaced old ones, and recent improvements with endogenous tradability have provided direction for future samuelaon.

Retrieved from ” https: Therefore, the RER -deviation exists independent of what happens to the nominal exchange rate which is always 1 for areas sharing the same currency. See general information about how to correct material in RePEc.

In these analyzed estimates, country specific HBS coefficients have been estimated times in total, sffet at least once for 65 different countries”.

Taux de change reel et effet Balassa-Samuelson

Lessons from Singapore”, China Economic Review10 2: Also, one should have in mind that a lot of papers have been published since then. You can help adding them by using this form. This allows to link your profile nalassa this item. Please note that corrections may take a couple of weeks to filter through the various RePEc services. RePEc uses bibliographic data supplied by the respective publishers. Refinements to the econometric techniques and debate about alternative models are continuing in the Bwlassa economics community.

EconPapers: L’effet Balassa-Samuelson et les différences d’inflation entre les provinces chinoises

Consensus has been reached on the testing of internal and external HBS effects vis a vis a numeraire country with a strong reservation against the purchasing power parity assumption in the tradable sector. Since capital inflow is associated with high-income states e. Exchange rate movements are believed by some to affect productivity; if this is true then regressing RER movements on differential productivity growth will be ‘polluted’ by a totally different relationship between the variables 1.

A Survey of Empirical Evidence” — via ideas. This alone may shift the consumer price indexand might make the non-trade sector look relatively less sameulson than it had been balsasa demand was lower; if service quality rather than quantity follows diminishing returns to labour input, a general demand for a higher service quality automatically produces a reduction in per-capita productivity.

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In order to protect domestic producers import barriers are raised, allowing the local price for the traded good to rise beyond the international price. However most services must be delivered locally e.

Although some negative results have been returned, there has been strong support for the predictions of a cointegration between relative productivity and relative prices within a country and between countries, while the interpretation of evidence for cointegration between real exchange rate and relative productivity has been much more controversial.

The Penn effect is that PPP-deviations usually occur in the same direction: Capital inflows say to the Netherlands may stimulate currency appreciation through demand for money. This is due to the effect’s prediction that the CPI will increase by more in the former case.

Over time, the testing of the HBS model has evolved quite dramatically.

A Reappraisal”, Journal of Political Economy72 6: For simplicity assume that productivity, as measured by marginal product in terms of goods produced of labor, in the nontradable sector is equal between countries and normalized to one. Although pub beer is transportable, the pub itself is not. From Wikipedia, the free encyclopedia.

It also allows you to accept potential citations to this item that we are uncertain about. However, the essence of the Balassa—Samuelson mechanism would still remain: F31 – International Economics – – International Finance – – – Foreign Exchange Statistics Access and download statistics Corrections All material on this site has been provided by the respective publishers and authors. A pint of pub beer is famously more expensive in the south of England than the north, but supermarket beer prices are very similar.

If wealthy countries feel more able to protect their native producers than developing nations e. However, this reasoning is slightly different from the pure BS-hypothesis, because the goods being produced are ‘traded-goods’, even though protectionist measures mean that they are more expensive on the domestic market than the international market, so they will not be ” traded ” internationally [5].

Where the subscript “t” denotes the tradables sector.