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THE RELATIVE PRICE OF SERVICES

机译:服务的相对价格

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Prices of GDP relative to the exchange rate increase with income per capita, which is known as the Penn-effect. This is generally attributed to services being cheaper relative to goods in poorer countries. In this paper we re-examine the Penn-effect based on a new set of PPPs for industry output. These are estimated in an augmented Geary-Khamis approach using prices for final goods, exports, and imports. The resulting multilateral PPPs cover 35 industries in 42 countries for the year 2005. We find large variation in relative prices of various services industries. In particular the Penn-effect appears to be mostly due to the rapidly rising output prices of non-market services. This seems related mainly to the high labor intensity of that sector.
机译:GDP的价格相对于汇率随人均收入的增加而增加,这被称为Penn效应。通常,这归因于相对于贫穷国家的商品而言,服务相对便宜。在本文中,我们将基于一组用于工业产出的新的PPP重新审查Penn效应。使用增强的Geary-Khamis方法估计这些成本,使用最终产品,出口和进口的价格。由此产生的多边购买力平价在2005年涵盖了42个国家的35个行业。我们发现各种服务行业的相对价格差异很大。特别是佩恩效应似乎主要是由于非市场服务的产出价格迅速上涨。这似乎主要与该部门的高劳动强度有关。

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