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标题：The Contribution of Sectoral Productivity Differentials to Inflation in Greece
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作者：Heather D. Gibson ; Jim Malley
期刊名称：Departmental Discussion Papers / University of Glasgow, Department of Economics
出版年度：2007
卷号：1
出版社：University of Glasgow, Department of Economics
摘要：The existence of significant inflation differentials in the euro area and their potential impact on the competitiveness of those countries with higher inflation have led to increased interest in the magnitude of the Balassa-Samuelson (hereafter BS) effect. To the extent that an inflation differential between a particular country and its main trading partners is entirely a consequence of this effect, it will not impact on that country¡¯s competitiveness vis-¨¤-vis its trading partners. In a monetary union, where the option of using the nominal exchange rate to alter competitiveness among the members has been given up, this is a reassuring result because it implies that inflation differentials do not need to be offset through nominal exchange rate adjustments1.