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The Terms of Trade and the International Transfers of Productivity Gains


  • Gabrielle Antille
  • Emilio Fontela


In international economic relations, when movements of labour are limited and fiscal redistributive policies non-existent, changes in the terms of trade (the ratio between the prices of exports and imports) are the main driving force for the international redistribution of incomes or of productivity gains. The concept of productivity flows linked to price changes can be extended from the interindustry framework to deal with international relations bringing some new insights into the terms of trade issues. The paper develops a conceptual framework for the computation of international flows of productivity gains, taking into consideration the role of exchange rates and the meaning of Purchasing Power Parities. It is completed by a set of computations on Swiss relations with the rest of the world.

Suggested Citation

  • Gabrielle Antille & Emilio Fontela, 2003. "The Terms of Trade and the International Transfers of Productivity Gains," Economic Systems Research, Taylor & Francis Journals, vol. 15(1), pages 3-19, March.
  • Handle: RePEc:taf:ecsysr:v:15:y:2003:i:1:p:3-19
    DOI: 10.1080/0953531032000056918

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    Cited by:

    1. G. Garau & S. Deriu, 2020. "Total Factor Productivity and Relative Prices: the case of Italy," Working Paper CRENoS 202003, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    2. G. Garau & P. Lecca & L. Schirru, 2009. "Does deflation method matter for productivity measures?," Working Paper CRENoS 200901, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    3. Maciej Grodzicki, 2018. "Prices of Value Added and Competitiveness in Global Value Chains," SPRU Working Paper Series 2018-14, SPRU - Science Policy Research Unit, University of Sussex Business School.

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