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Measuring Competitiveness

This paper reviews alternative approaches to measuring an economy's cost competitiveness and proposes some new measures inspired by the economic theory of index numbers. The indices provide a theoretical benchmark for estimated real effective exchange rates, but differ from standard measures in...

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Bibliographic Details
Main Author: Neary, J. Peter
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2006
Series:IMF Working Papers
Subjects:
Employment
Competition
Cost And Standard Of Living
Economic Theory
Foreign Exchange
Consumer Price Indexes
Unemployment
General Financial Markets: General (includes Measurement And Data)
Real Effective Exchange Rates
Income Economics
Wages
Price Indexes
Inflation
Aggregate Human Capital
Cost Of Living
Data Access
Methodology For Collecting, Estimating, And Organizing Macroeconomic Data
Finance: General
Aggregate Labor Productivity
Labour
Finance
Intergenerational Income Distribution
Price Level
Currency
Deflation
Labor
Macroeconomics
Ireland
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper reviews alternative approaches to measuring an economy's cost competitiveness and proposes some new measures inspired by the economic theory of index numbers. The indices provide a theoretical benchmark for estimated real effective exchange rates, but differ from standard measures in that they are based on marginal rather than average sectoral shares in GDP or employment. The use of the new indices is illustrated by some simple calculations that highlight the potential exposure of the Irish economy to fluctuations in the euro-sterling exchange rate
Physical Description:21 pages
ISBN:9781451864694

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