National Price Levels and the Prices of Tradables and Nontradables
研究国家价格水平及可贸易品与不可贸易品价格的变化，发现人均收入增加时，国家价格水平上升，可贸易品相对价格下降；汇率升值也降低可贸易品相对价格。
National Price Levels and the Prices of Tradables and Nontradables This paper examines changes in national price levels and prices of tra— dables and nontradables and relates them to changes in variables found earlier to be associated with price level differences among countries. Across countries, national price levels increase systematically with the level of a country's per capita income, and the ratios of tradables to nontra— dables prices decrease. Over time, increases in per capita income are generally associated with increases in price levels in the industrial countries, although the opposite relationship tended to prevail among deve-loping countries. Increases in income are associated with declines in the ratio of tradables to nontradables price levels more consistently than with the increases in general price levels. Increases in the exchange value of a currency are also associated with declines in the price levels for tradables relative to nontradables. Countries with price levels that were high or low relative to those predicted by the structural equations tended to move toward those predicted levels.