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FOLLOWING SOLOW [18] and others, extensive research has been done in the quantitative determination of the sources of productivity growth. To the best of the author's knowledge, quantitative studies aimed at separating the determinants of relative price changes are rare, if existent. This study analyzes some of the economic problems involved in separating the determinants of relative price movements. The point of departure is Stigler's thoretical analysis of the economic problems involved in measuring productivity under different market structures [19]. Stigler demonstrated, inter alia, that the |
