Balassa-Samuelson ·
Why Zurich Costs More Than Manila
un
seel
.com · 1964 dual-sector model · tradables vs non-tradables · Penn effect
Price level
100
Stage
—
Beat
—
Tradable goods (one price)
Non-tradable services
Wages (rise with tradables)
General price level
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.com · Balassa-Samuelson Effect