全球智库信息集成服务系统(G2TT): DP1452 Transition Dynamics and Trade Policy Reform in Developing Countries

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP1452
	DP1452 Transition Dynamics and Trade Policy Reform in Developing Countries
	Hakan Nordstrom; Joseph Francois; Clinton R. Shiells
发表日期	1996-07-31
出版年	1996
语种	英语
摘要	While overall inflation has fallen dramatically in countries like Italy and Spain, inflation in the home good sector remains stubbornly higher than inflation in the traded good sector. If nominal exchange rates are fixed, these real appreciations imply an inflation differential with countries like Germany. We first show that the real appreciations can be explained largely by differences in productivity trends across the traded and non-traded goods sectors. We then analyse the implications of the trends in productivity for the consistency of the Maastricht convergence criteria, and we discuss the pressure productivity trends put on monetary policy in countries like Italy and Spain to meet the convergence criteria; we also discuss steps that might be taken to change the trends in productivity. Lastly, we calculate the implications of current trends in productivity for the differences in regional inflation under a common currency. Comparisons are made with regional productivity trends in the United States.
主题	International Macroeconomics
关键词	inflation Maastricht treaty Productivity
URL	https://cepr.org/publications/dp1452
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/530588
推荐引用方式 GB/T 7714	Hakan Nordstrom,Joseph Francois,Clinton R. Shiells. DP1452 Transition Dynamics and Trade Policy Reform in Developing Countries. 1996.