Showing 1 - 10 of 2,464
globalization in France has been a huge growth in vertical specialization -- the completion of the different production stages of a … that in France vertical specialization -- defined as the share of imported inputs in production -- rose from 9% in 1977 to …
Persistent link: https://www.econbiz.de/10013218888
Countries that are more engaged in production sharing exhibit higher bilateral manufacturing output correlations. We use data on trade flows between US multinationals and their affiliates as well as trade between the United States and Mexican maquiladoras to measure production-sharing trade and...
Persistent link: https://www.econbiz.de/10012759633
This paper explores the emergence of a world economy since 1950 and its implications for the world's labor force. There …, the world economy is still in its adolescence. Rapid integration has occurred among the industrial economies, but … the industrial economies, but not in world income inequality as the income gap between the industrial and developing …
Persistent link: https://www.econbiz.de/10013244874
We examine the sales of French manufacturing firms in 113 destinations, including France itself. Several regularities … participation; (3) average sales in France rise very systematically with selling to less popular markets and to more markets. We …
Persistent link: https://www.econbiz.de/10012765557
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...
Persistent link: https://www.econbiz.de/10013098810
bit more than half the world's countries experience declining CHB and rising TFP. The effects are big for the outliers. A …
Persistent link: https://www.econbiz.de/10013069388
As production comes to depend more on intangible productive assets, the location of production by multinational firms becomes increasingly ambiguous. The reason is that, within the firm, these assets have no clear geographical location, but only a nominal location determined by the firm's tax or...
Persistent link: https://www.econbiz.de/10012759116
Falling costs of coordination and communication have allowed firms in rich countries to fragment their production process and offshore an increasing share of the value chain to low-wage countries. Popular discussions about the aggregate impact of this phenomenon on rich countries have stressed...
Persistent link: https://www.econbiz.de/10012759968
This paper provides a general and unified framework to study the role of production networks in international GDP comovement. We first derive an additive decomposition of bilateral GDP comovement into components capturing shock transmission and shock correlation. We quantify this decomposition...
Persistent link: https://www.econbiz.de/10012867903
We study the instability of hyper-specialization of exports. We have two main findings. (1) Specializations are surprisingly unstable: Export ranks are not persistent, and new top products and destinations replace old ones. Measurement error is unlikely to be the main or only determinant of this...
Persistent link: https://www.econbiz.de/10012978517