Relative Prices and Sectoral Labor Productivity Differentials: A Long-Run Analysis for Greece

Ekonomia, Vol. 4, No. 2, Winter 2000

15 Pages Posted: 14 Dec 2003 Last revised: 22 Feb 2018

See all articles by Zacharias Bragoudakis

Zacharias Bragoudakis

Bank of Greece; National and Kapodistrian University of Athens, Department of Economics

Demetrios Moschos

National and Kapodistrian University of Athens - Faculty of Economics

Date Written: October 1999

Abstract

This paper investigates empirically the long-run linkages between sectoral relative prices and labor productivities implied by the Balassa (1964) and Samuelson (1964) framework. The role of wage non-homogeneity across sectors is explored by incorporating sectoral wages into the analysis. The results of the cointegration methodology fail to establish the existence of a stable long-run relationship.

Keywords: Balassa-Samuelson model, Cointegration

JEL Classification: F41, C32

Suggested Citation

Bragoudakis, Zacharias and Moschos, Demetrios, Relative Prices and Sectoral Labor Productivity Differentials: A Long-Run Analysis for Greece (October 1999). Ekonomia, Vol. 4, No. 2, Winter 2000, Available at SSRN: https://ssrn.com/abstract=456260

Zacharias Bragoudakis (Contact Author)

Bank of Greece ( email )

21 E. Venizelos Avenue
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Greece
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National and Kapodistrian University of Athens, Department of Economics ( email )

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Athens, 105 59
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HOME PAGE: http://www.econ.uoa.gr/

Demetrios Moschos

National and Kapodistrian University of Athens - Faculty of Economics ( email )

8 Pesmazoglou street
GR-10559 Athens
Greece

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