Value-added exchange rates

Rudolfs Bems, Robert Johnson, 6 December 2012

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Real effective exchange rates (REERs) are widely used to gauge competitiveness. Yet conventional REERs, based on gross trade flows and consumer price indexes (CPIs), are not well suited to that role when imports are used to produce exports – i.e., with vertical specialisation in trade.

Topics: Competition policy, Global economy, International trade
Tags: China, competitiveness, Germany, global imbalances, globalisation, iPhone, supply chains, trade

Has production become more fragmented? International vs domestic perspectives

Thibault Fally, 10 January 2012

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Production seems more complex and fragmented today than ever before. For instance, airplanes are made of zillions of parts involving many suppliers from various countries (see eg www.newairplane.com).

Topics: International trade
Tags: iPhone, manufacturing, US

How the iPhone widens the US trade deficit with China

Yuqing Xing, 10 April 2011

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At the centre of global imbalances is the bilateral trade imbalance between China and the US. Most attention to date has been focused on macro factors and China’s exchange-rate regime.

Topics: Exchange rates, International trade
Tags: China, exchange-rate policy, global imbalances, iPhone, US

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