Improving competition in the non-tradable goods and labour markets : the Portuguese case
Autor(a) principal: | |
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Data de Publicação: | 2010 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/15654 |
Resumo: | This study assesses the macroeconomic impacts of increasing competition in the non-tradable goods and labour markets in Portugal. We lean on evidence that the maintenance of low competition in these markets may have contributed to the recent poor performance of the Portuguese economy. The analysis is performed using PESSOA, a dynamic general equilibrium model for a small-open economy integrated in a monetary union, featuring non-Ricardian characteristics, a multi-sectoral production structure and a number of nominal and real rigidities. We conclude that measures aimed at increasing competition in the Portuguese non-tradable goods and labour markets could induce important international competitiveness gains and be valuable instruments in promoting necessary adjustments within the monetary union framework. However, in the short run, real interest rates are likely to increase, driving consumption and output temporarily downwards. |
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Improving competition in the non-tradable goods and labour markets : the Portuguese caseCompetitionCompetitivenessDSGESmall-open economyPortugalThis study assesses the macroeconomic impacts of increasing competition in the non-tradable goods and labour markets in Portugal. We lean on evidence that the maintenance of low competition in these markets may have contributed to the recent poor performance of the Portuguese economy. The analysis is performed using PESSOA, a dynamic general equilibrium model for a small-open economy integrated in a monetary union, featuring non-Ricardian characteristics, a multi-sectoral production structure and a number of nominal and real rigidities. We conclude that measures aimed at increasing competition in the Portuguese non-tradable goods and labour markets could induce important international competitiveness gains and be valuable instruments in promoting necessary adjustments within the monetary union framework. However, in the short run, real interest rates are likely to increase, driving consumption and output temporarily downwards.Springer VerlagRepositório da Universidade de LisboaAlmeida, VandaCastro, GabrielaFélix, Ricardo Mourinho2018-06-20T08:47:53Z2010-122010-12-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/15654engAlmeida, Vanda, Gabriela Castro e Ricardo Mourinho Félix (2010). "Improving competition in the non-tradable goods and labour markets : the Portuguese case". Portuguese Economic Journal, 9(3):163-1931617-982X (print)10.1007/s10258-010-0062-8metadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-12T01:30:55Zoai:www.repository.utl.pt:10400.5/15654Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:01:16.819476Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Improving competition in the non-tradable goods and labour markets : the Portuguese case |
title |
Improving competition in the non-tradable goods and labour markets : the Portuguese case |
spellingShingle |
Improving competition in the non-tradable goods and labour markets : the Portuguese case Almeida, Vanda Competition Competitiveness DSGE Small-open economy Portugal |
title_short |
Improving competition in the non-tradable goods and labour markets : the Portuguese case |
title_full |
Improving competition in the non-tradable goods and labour markets : the Portuguese case |
title_fullStr |
Improving competition in the non-tradable goods and labour markets : the Portuguese case |
title_full_unstemmed |
Improving competition in the non-tradable goods and labour markets : the Portuguese case |
title_sort |
Improving competition in the non-tradable goods and labour markets : the Portuguese case |
author |
Almeida, Vanda |
author_facet |
Almeida, Vanda Castro, Gabriela Félix, Ricardo Mourinho |
author_role |
author |
author2 |
Castro, Gabriela Félix, Ricardo Mourinho |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Almeida, Vanda Castro, Gabriela Félix, Ricardo Mourinho |
dc.subject.por.fl_str_mv |
Competition Competitiveness DSGE Small-open economy Portugal |
topic |
Competition Competitiveness DSGE Small-open economy Portugal |
description |
This study assesses the macroeconomic impacts of increasing competition in the non-tradable goods and labour markets in Portugal. We lean on evidence that the maintenance of low competition in these markets may have contributed to the recent poor performance of the Portuguese economy. The analysis is performed using PESSOA, a dynamic general equilibrium model for a small-open economy integrated in a monetary union, featuring non-Ricardian characteristics, a multi-sectoral production structure and a number of nominal and real rigidities. We conclude that measures aimed at increasing competition in the Portuguese non-tradable goods and labour markets could induce important international competitiveness gains and be valuable instruments in promoting necessary adjustments within the monetary union framework. However, in the short run, real interest rates are likely to increase, driving consumption and output temporarily downwards. |
publishDate |
2010 |
dc.date.none.fl_str_mv |
2010-12 2010-12-01T00:00:00Z 2018-06-20T08:47:53Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/15654 |
url |
http://hdl.handle.net/10400.5/15654 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Almeida, Vanda, Gabriela Castro e Ricardo Mourinho Félix (2010). "Improving competition in the non-tradable goods and labour markets : the Portuguese case". Portuguese Economic Journal, 9(3):163-193 1617-982X (print) 10.1007/s10258-010-0062-8 |
dc.rights.driver.fl_str_mv |
metadata only access info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
metadata only access |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Springer Verlag |
publisher.none.fl_str_mv |
Springer Verlag |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799131101287940096 |