NBER最新Working Paper: Demand for Value Added and Value-Added Exchange Rates

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We examine the role of cross-border input linkages in governing how international relative price changes influence demand for domestic value added. We define a novel value-added real effective exchange rate (REER), which aggregates bilateral value-added price changes, and link this REER to demand for value added. Input linkages enable countries to gain competitiveness following depreciations by supply chain partners, and hence counterbalance beggar-thy-neighbor effects. Cross-country differences in input linkages also imply that the elasticity of demand for value added is country specific. Using global input-output data, we demonstrate these conceptual insights are quantitatively important and compute historical value-added REERs.
注：两位作者对增加值贸易这块已经做了很多年的研究


w21070_Demand for Value Added and Value-Added Exchange Rates.pdf (613.76 KB)

2015-4-10 08:58:01 上传

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关键词：exchange working Exchang change demand countries effective following domestic exchange

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