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Measuring Competitiveness Author info | Abstract | Publisher info | Download info | Related research | Statistics J. Peter Neary (University College Dublin and CEPR)
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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 which highlight the potential exposure of the Irish economy to fluctuations in the euro-sterling exchange rate.
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Article provided by Economic and Social Studies in its journal Economic and Social Review .
Volume (Year): 37 (2006)
Issue (Month): 2 ()
Pages: 197-213
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Handle: RePEc:eso:journl:v:37:y:2006:i:2:p:197-213Contact details of provider: Web page: http://www.esr.ie
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Keywords: Other versions of this item:
Paper J. Peter Neary, 2006.
"Measuring Competitiveness ,"
IMF Working Papers
06/209, International Monetary Fund.
[Downloadable!] Neary, J Peter, 2006.
"Measuring Competitiveness ,"
CEPR Discussion Papers
5982, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) J Peter Neary, 2005.
"Measuring Competitiveness ,"
Working Papers
200521, School Of Economics, University College Dublin.
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199622, School Of Economics, University College Dublin.
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"Catching Up with the Leaders: The Irish Hare ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 33(2002-1), pages 1-78.
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J. Peter Neary, 2003.
"Competitive versus Comparative Advantage ,"
The World Economy ,
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Other versions: Carlin, Wendy & Glyn, Andrew & Van Reenen, John, 2001.
"Export Market Performance of OECD Countries: An Empirical Examination of the Role of Cost Competitiveness ,"
Economic Journal ,
Royal Economic Society, vol. 111(468), pages 128-62, January.
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Other versions: Valerie Cerra & Jarkko Soikkeli & Sweta C. Saxena, 2003.
"How Competitive is Irish Manufacturing? ,"
The Economic and Social Review ,
Economic and Social Studies, vol. 34(2), pages 173-193.
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Other versions: Obstfeld, Maurice & Rogoff, Kenneth, 1995.
"Exchange Rate Dynamics Redux ,"
CEPR Discussion Papers
1131, C.E.P.R. Discussion Papers.
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Other versions:
Maurice Obstfeld and Kenneth Rogoff., 1995.
"Exchange Rate Dynamics Redux ,"
Center for International and Development Economics Research (CIDER) Working Papers
C95-048, University of California at Berkeley.
Maurice Obstfeld & Kenneth Rogoff, 1996.
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NBER Working Papers
4693, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Obstfeld, Maurice & Rogoff, Kenneth, 1995.
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Journal of Political Economy ,
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"International Factor Mobility, Minimum Wage Rates, and Factor-Price Equalization: A Synthesis ,"
The Quarterly Journal of Economics ,
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Sarma Jayanthi & Tamim Bayoumi & Jaewoo Lee, 2005.
"New Rates from New Weights ,"
IMF Working Papers
05/99, International Monetary Fund.
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Other versions:
Bayoumi, Tamim & Jayanthi, Sarma & Lee, Jaewoo, 2006.
"New Rates from New Weights ,"
CEPR Discussion Papers
5860, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Tamim Bayoumi & Jaewoo Lee & Sarma Jayanthi, 2006.
"New Rates from New Weights ,"
IMF Staff Papers ,
Palgrave Macmillan Journals, vol. 53(2), pages 4.
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"The new open economy macroeconomics: a survey ,"
Journal of International Economics ,
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Other versions: Baker, Terence J. & Fitz Gerald, John & Honohan, Patrick, 1996.
"Economic Implications for Ireland of EMU ,"
Research Series ,
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11521, National Bureau of Economic Research, Inc.
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Other versions: Ian Marsh & Stephen Tokarick, 1996.
"An assessment of three measures of competitiveness ,"
Review of World Economics (Weltwirtschaftliches Archiv) ,
Springer, vol. 132(4), pages 700-722, December.
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Richard W. Blundell & Martin Browning & Ian A. Crawford, 2003.
"Nonparametric Engel Curves and Revealed Preference ,"
Econometrica ,
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Other versions: Anderson, James E & Neary, J Peter, 1996.
"A New Approach to Evaluating Trade Policy ,"
Review of Economic Studies ,
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Other versions:
J Anderson & J.P. Neary, 1993.
"A New Approach to Evaluating Trade Policy ,"
CEP Discussion Papers
dp0173, Centre for Economic Performance, LSE.
Anderson, James E & Neary, J Peter, 1992.
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CEPR Discussion Papers
683, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Anderson, James E. & Neary, J. Peter, 1992.
"A new approach to evaluating trade policy ,"
Policy Research Working Paper Series
1022, The World Bank.
[Downloadable!] James E. Anderson & J. Peter Neary, 2005.
"Measuring the Restrictiveness of International Trade Policy ,"
MIT Press Books ,
The MIT Press,
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Diewert, W. E., 1976.
"Exact and superlative index numbers ,"
Journal of Econometrics ,
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Neary, Peter, 1988.
"Determinants of the Equilibrium Real Exchange Rate ,"
American Economic Review ,
American Economic Association, vol. 78(1), pages 210-15, March.
[Downloadable!] (restricted)
Other versions: Walsh, Brendan, 2000.
"Cyclical and Structural Influences on Irish Unemployment ,"
Oxford Economic Papers ,
Oxford University Press, vol. 52(1), pages 119-45, January.
Neary, J.P. & Thom, D.R., 1996.
"Punts, Pounds and Euros: In Search of an Optimum Currency Area ,"
Papers
96/24, College Dublin, Department of Political Economy-.
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Herman Z. Bennett & Ziga Zarnic, 2008.
"International Competitiveness of the Mediterranean Quartet:A Heterogeneous-Product Approach ,"
IMF Working Papers
08/240, International Monetary Fund.
[Downloadable!]
Other versions: Yuan Xiao & Marialuz Moreno-Badia & Werner Schule & Herman Z. Bennett & Julio Escolano & Stefania Fabrizio & Eva Gutierrez & Bogdan Lissovolik & Stephen Tokarick & Iryna V. Ivaschenko, 2008.
"Competitiveness in the Southern Euro Area: France, Greece, Italy, Portugal, and Spain ,"
IMF Working Papers
08/112, International Monetary Fund.
[Downloadable!]
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