Differential Changes In Productivity And The Terms Of Trade
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Differential Changes In Productivity And The Terms Of Trade
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Author : Michael C. Dakolias
language : en
Publisher:
Release Date : 1960
Differential Changes In Productivity And The Terms Of Trade written by Michael C. Dakolias and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1960 with categories.
Adjusting Output And Productivity Indexes For Changes In The Terms Of Trade
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Author : W. Erwin Diewert
language : en
Publisher:
Release Date : 1985
Adjusting Output And Productivity Indexes For Changes In The Terms Of Trade written by W. Erwin Diewert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Input-output analysis categories.
In this paper we employ index number theory in addressing the problem of adjusting real national income and real domestic product for changes in a country's terms of trade. More specifically, using recent developments in the theory of production, we address the problems related to measuring: (i) real output produced and real input utilized by the private business sector; (ii) productivity growth or technical change; (iii) the effects on domestic real output of changes in the terms of trade; and (iv) the impact on final sales to domestic purchasers of changes in the balance of payments deficit, in a consistent accounting framework.This treatment of international trade allows us to undertake comparative statics analyses using only production theory, whereas in the traditional paradigm which treats traded goods as perfectly substitutable with a class of domestic goods, a general equilibrium framework is required. We illustrate our suggested solutions using U.S. data for the years 1968-82
Effects Of Terms Of Trade Gains And Tariff Changes On The Measurement Of U S Productivity Growth
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Author : Robert C. Feenstra
language : en
Publisher:
Release Date : 2009
Effects Of Terms Of Trade Gains And Tariff Changes On The Measurement Of U S Productivity Growth written by Robert C. Feenstra and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Industrial productivity categories.
Since 1995, growth in productivity in the United States appears to have accelerated dramatically. In this paper, we argue that part of this apparent speed-up actually represents gains in the terms of trade and tariff reductions, especially for information-technology products. We demonstrate how unmeasured gains in the terms of trade and declines in tariffs can cause conventionally measured growth in real output and productivity to be overstated. Building on the GDP function approach of Diewert and Morrison, we develop methods for measuring these effects. From 1995 through 2006, the average growth rates of our alternative price indexes for U.S. imports are 1.5% per year lower than the growth rate of price indexes calculated using official methods. Thus properly measured terms-of-trade gain can account for close to 0.2 percentage points per year, or about 20%, of the 1995-2006 apparent increase in productivity growth for the U.S. economy. Bias in the price indexes used to deflate domestic output is a question beyond the scope of this paper, but if upward bias were also present in those indexes, this could offset some of the effects of mismeasurement of gains in terms of trade.
Economic Growth And The Balance Of Payments Constraint
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Author : John McCombie
language : en
Publisher: Springer
Release Date : 2016-07-27
Economic Growth And The Balance Of Payments Constraint written by John McCombie and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-27 with Business & Economics categories.
'... a well written book ... covering ... a vast amount of material ... well balanced between the theoretical and applied works. The authors are judicious and fair in providing a balanced treatment of the two alternative theories of growth performance: supply-oriented and demand-oriented. The book will serve as a guideline to researchers and policymakers ... as a textbook for upperdivision undergraduate and graduate courses.'- Kashi Nath Tiwari, Kennesaw State College This is the first book of its kind to argue in a consistent and comprehensive way the idea that a country's growth performance cannot be properly understood without reference to the performance of its tradeable goods sector and the strength of its balance of payments. It puts forward a demand orientated theory of why growth rates differ between countries where the major constraint on demand is the balance of payments. The book is critical of neoclassical growth analysis and provides an alternative theory of growth performance to the supply orientated approach of neoclassical theory. There are theoretical chapters comparing and contrasting neoclassical growth analysis with the new demand orientated approach, and empirical sections which apply the new model to regions and countries, including two case studies of the UK and Australia.
Falling Trade Costs Heterogeneous Firms And Industry Dynamics
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Author : Andrew B. Bernard
language : en
Publisher:
Release Date : 2003
Falling Trade Costs Heterogeneous Firms And Industry Dynamics written by Andrew B. Bernard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Commerce categories.
This paper examines the response of industries and firms to changes in trade costs. Several new firm-level models of international trade with heterogeneous firms predict that industry productivity will rise as trade costs fall due to the reallocation of activity across plants within an industry. Using disaggregated U.S. import data, we create a new measure of trade costs over time and industries. As the models predict, productivity growth is faster in industries with falling trade costs. We also find evidence supporting the major hypotheses of the heterogenous-firm models. Plants in industries with falling trade costs are more likely to die or become exporters. Existing exporters increase their shipments abroad. The results do not apply equally across all sectors but are strongest for industries most likely to be producing horizontally-differentiated tradeable goods.
Global Productivity
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Author : Alistair Dieppe
language : en
Publisher: World Bank Publications
Release Date : 2021-06-09
Global Productivity written by Alistair Dieppe and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-09 with Business & Economics categories.
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
Changing Patterns Of Global Trade
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Author : Nagwa Riad
language : en
Publisher: International Monetary Fund
Release Date : 2012-01-15
Changing Patterns Of Global Trade written by Nagwa Riad and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-15 with Business & Economics categories.
Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.
Principles Of International Finance And Open Economy Macroeconomics
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Author : Cristina Terra
language : en
Publisher: Academic Press
Release Date : 2015-06-09
Principles Of International Finance And Open Economy Macroeconomics written by Cristina Terra and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-09 with Business & Economics categories.
Principles of International Finance and Open Economy Macroeconomics: Theories, Applications, and Policies presents a macroeconomic framework for understanding and analyzing the global economy from the perspectives of emerging economies and developing countries. Unlike most macroeconomic textbooks, which typically emphasize issues about developed countries while downplaying issues related to developing countries, this book emphasizes problems in emerging economies, including those in Latin American countries. It also explains recent developments in international finance that are essential to a thorough understanding of the effects and implications of the recent financial crisis. Concentrates on developing country perspectives on International Finance and the Economy, including those in Latin American countries Provides case studies and publicly available data allowing readers to explore theories and their applications Explains recent developments in international finance that are essential to a thorough understanding of the effects and implications of the recent financial crisis Proposes a unified mathematical model accessible to those with basic mathematical skills
The Role Of Productivity Transportation Costs And Barriers To Intersectoral Mobility In Structural Transformation
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Author : Cem Karayalcin
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-30
The Role Of Productivity Transportation Costs And Barriers To Intersectoral Mobility In Structural Transformation written by Cem Karayalcin and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-30 with Business & Economics categories.
The process of economic development is characterized by substantial reallocations of resources across sectors. In this paper, we construct a multi-sector model in which there are barriers to the movement of labor from low-productivity traditional agriculture to modern sectors. With the barrier in place, we show that improvements in productivity in modern sectors (including agriculture) or reductions in transportation costs may lead to a rise in agricultural employment and through terms-oftrade effects may harm subsistence farmers if the traditional subsistence sector is larger than a critical level. This suggests that policy advice based on the earlier literature needs to be revised. Reducing barriers to mobility (through reductions in the cost of skill acquisition and institutional changes) and improving the productivity of subsistence farmers needs to precede policies designed to increase the productivity of modern sectors or decrease transportation costs.
Exchange Rate Policy In Developing Countries
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Author : Mr.Mohsin S. Khan
language : en
Publisher: International Monetary Fund
Release Date : 1991-05-15
Exchange Rate Policy In Developing Countries written by Mr.Mohsin S. Khan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-05-15 with Business & Economics categories.
This paper addresses analytical aspects of exchange rate policy and emphasizes the relationship among exchange rate flexibility, financial discipline, and international competitiveness.