Explaining product price differences across countries:
A substantial part of international differences in prices of individual products, both goods and services, can be explained by differences in per capita income, wage compression, or low wage dispersion among low-wage workers, and short-term exchange rate fluctuations. Higher per capita income is ass...
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2007
|
| Series: | Working paper series / National Bureau of Economic Research
13239 |
| Online Access: | Volltext |
| Summary: | A substantial part of international differences in prices of individual products, both goods and services, can be explained by differences in per capita income, wage compression, or low wage dispersion among low-wage workers, and short-term exchange rate fluctuations. Higher per capita income is associated with higher prices and higher wage dispersion with lower prices. The effects of higher income and wage dispersion are moderated for the more tradable products. The effects of wage dispersion, on the other hand, are magnified for the more labor-intensive products, particularly low-skill services. The differences in prices across countries are reflected in differences in the composition of consumption. Countries in which prices of labor-intensive services are very high, such as the Nordic countries, consume much less of them. For some services, the shares of GDP consumed in high-price countries are less than 20 percent of the shares in low-price countries. Since these are services of very low tradability, the low consumption levels of these services imply low employment in them. |
| Item Description: | Literaturverz. S. 29 - 31 |
| Physical Description: | 40 S. graph. Darst. 22 cm |
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| spelling | Lipsey, Robert E. 1926-2011 Verfasser (DE-588)124511538 aut Explaining product price differences across countries Robert E. Lipsey ; Birgitta Swedenborg Cambridge, Mass. National Bureau of Economic Research 2007 40 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13239 Literaturverz. S. 29 - 31 A substantial part of international differences in prices of individual products, both goods and services, can be explained by differences in per capita income, wage compression, or low wage dispersion among low-wage workers, and short-term exchange rate fluctuations. Higher per capita income is associated with higher prices and higher wage dispersion with lower prices. The effects of higher income and wage dispersion are moderated for the more tradable products. The effects of wage dispersion, on the other hand, are magnified for the more labor-intensive products, particularly low-skill services. The differences in prices across countries are reflected in differences in the composition of consumption. Countries in which prices of labor-intensive services are very high, such as the Nordic countries, consume much less of them. For some services, the shares of GDP consumed in high-price countries are less than 20 percent of the shares in low-price countries. Since these are services of very low tradability, the low consumption levels of these services imply low employment in them. Swedenborg, Birgitta 1941- Verfasser (DE-588)133485390 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13239 (DE-604)BV002801238 13239 http://papers.nber.org/papers/w13239.pdf kostenfrei Volltext |
| spellingShingle | Lipsey, Robert E. 1926-2011 Swedenborg, Birgitta 1941- Explaining product price differences across countries |
| title | Explaining product price differences across countries |
| title_auth | Explaining product price differences across countries |
| title_exact_search | Explaining product price differences across countries |
| title_exact_search_txtP | Explaining product price differences across countries |
| title_full | Explaining product price differences across countries Robert E. Lipsey ; Birgitta Swedenborg |
| title_fullStr | Explaining product price differences across countries Robert E. Lipsey ; Birgitta Swedenborg |
| title_full_unstemmed | Explaining product price differences across countries Robert E. Lipsey ; Birgitta Swedenborg |
| title_short | Explaining product price differences across countries |
| title_sort | explaining product price differences across countries |
| url | http://papers.nber.org/papers/w13239.pdf |
| volume_link | (DE-604)BV002801238 |
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