Considering a sample of 71 Italian metropolitan areas, this paper goes beyond the assumption that a unique core inflationary process exists in a macroeconomy. It shows that local long-run inflation rates can display remarkable variability. On the one hand they are negatively correlated with productivity growth; on the other, the less competitive the local retail sector, the higher is long-run inflation.
Titolo: | Intra-national Purchasing Power Parity and Balassa-Samuelson Effects in Italy |
Autori: | |
Data di pubblicazione: | 2011 |
Rivista: | |
Abstract: | Considering a sample of 71 Italian metropolitan areas, this paper goes beyond the assumption that a unique core inflationary process exists in a macroeconomy. It shows that local long-run inflation rates can display remarkable variability. On the one hand they are negatively correlated with productivity growth; on the other, the less competitive the local retail sector, the higher is long-run inflation. |
Handle: | http://hdl.handle.net/11562/360440 |
Appare nelle tipologie: | 01.01 Articolo in Rivista |
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