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TitleCompetition, productivity and prices in the euro area services sector
File Size1.5 MB
Total Pages141
Table of Contents
                            COMPETITION, PRODUCTIVITY AND PRICES IN THE EURO AREA SERVICES SECTOR, APRIL 2006
CONTENTS
TASK FORCE OF THE MONETARY POLICY COMMITTEE OF THE EUROPEAN SYSTEM OF CENTRAL BANKS
EXECUTIVE SUMMARY
1 ECONOMIC IMPACT OF SERVICES MARKET COMPETITION
	1.1 MACROECONOMIC RATIONALE AND TAXONOMY
	1.2 SELECTIVE LITERATURE REVIEW
		Box 1 THE EUROPEAN COMMISSION PROPOSAL FOR A DIRECTIVE ON SERVICES IN THE INTERNAL MARKET
2 LABOUR PRODUCTIVITY AND INFLATION IN THE SERVICES SECTOR
	2.1 MACROECONOMIC IMPORTANCE OF THE SERVICES SECTOR
	2.2 KEY FACTS REGARDING LABOUR PRODUCTIVITY AND INFLATION IN THE SERVICES SECTOR
		Box 2 INTERNATIONAL OUTSOURCING IN THE SERVICES SECTOR
3 MARKET STRUCTURE AND THE DEGREE OF COMPETITION IN SELECTED SERVICES SECTORS
	3.1 DEFINITION AND CHARACTERISTICS OF SELECTED SERVICES SECTORS
	3.2 PROXIES OF SERVICES SECTOR COMPETITION: A TAXONOMY
	3.3 PROXIES OF SERVICES MARKET COMPETITION: MAIN DEVELOPMENTS
		Box 3 FINANCIAL SERVICES – SPECIAL FEATURES
		Box 4 NON-MARKET SERVICES – SPECIAL FEATURES
4 THE EMPIRICAL LINK BETWEEN SERVICES MARKET COMPETITION, LABOUR PRODUCTIVITY GROWTH AND VALUE ADDED PRICE CHANGES
	4.1 INTRODUCTION
	4.2 SPECIFICATION OF THE ESTIMATED EQUATIONS
	4.3 POOLED REGRESSIONS
	4.4 WHOLESALE AND RETAIL TRADE
	4.5 HOTELS AND RESTAURANTS
	4.6 TRANSPORT AND STORAGE
	4.7 POST AND TELECOMMUNICATIONS
	4.8 REAL ESTATE, RENTING AND BUSINESS ACTIVITIES
	4.9 CONCLUSIONS
		Box 5 EFFECTS OF REGULATION IN THE RETAIL TRADE SECTOR: THE CASES OF FRANCE, SPAIN AND ITALY
		Box 6 SERVICES AND INNOVATION
ANNEXES
	1 PREPARATION OF THE MAIN DATABASE
		1 DESCRIPTION OF THE PROCEDURES APPLIED TO BUILD THE DATABASE
		2 PROCEDURES APPLIED TO CONSTRUCT INDICATORS FOR THE EURO AREA
	2 SELECTED MEASUREMENT ISSUES
		1 INTRODUCTION
		2 SCOPE AND LIMITS OF SOURCE STATISTICS
		3 MARKET SERVICES, IN PARTICULAR WHOLESALE AND RETAIL TRADE
		4 FINANCIAL SERVICES
		5 NON-MARKET SERVICES
		6 ADJUSTING FOR QUALITY CHANGES AND HEDONIC METHODS
		7 CHOICE OF INDEX NUMBERS FOR AGGREGATION
		8 HARMONISED INDEX OF CONSUMER PRICES (HICP)
		9 LABOUR INPUT
	3 COMPLETE LITERATURE REVIEW
		1 SERVICES SECTOR PRODUCTIVITY AND ITS MAIN DRIVERS
		2 THE IMPACT OF COMPETITION ON PRICE DEVELOPMENTS IN THE SERVICES SECTOR
		3 MEASUREMENT ISSUES IN THE SERVICES SECTOR
	4 TABLES
REFERENCES
EUROPEAN CENTRAL BANK OCCASIONAL PAPER SERIES
                        

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