| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18498 |
| 来源ID | Working Paper 18498 |
| Value-Added Exchange Rates | |
| Rudolfs Bems; Robert C. Johnson | |
| 发表日期 | 2012-10-25 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper updates the conceptual foundations for measuring real effective exchange rates (REERs) to allow for vertical specialization in trade. We derive a value-added REER describing how demand for the value added that a country produces changes as the price of its value added changes relative to competitors. We then compute this index for 42 countries from 1970-2009 using trade measured in value added terms and GDP deflators. There are substantial differences between value-added and conventional REERs. For example, China's value-added REER appreciated by 20 percentage points more than the conventional REER from 2000-2009. These differences are driven mainly by the theory-motivated shift in prices used to construct the value-added REER, not changes in bilateral weights. |
| 主题 | International Economics ; Trade ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w18498 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576173 |
| 推荐引用方式 GB/T 7714 | Rudolfs Bems,Robert C. Johnson. Value-Added Exchange Rates. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18498.pdf（583KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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