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Measures of Prices and Price Competitiveness in International Trade in Manufactured Goods

In: International Economic Transactions: Issues in Measurement and Empirical Research

  • Robert E. Lipsey
  • Linda Molinari
  • Irving B. Kravis

The purpose of this paper is to present, and to explain the construction of, a set of price indexes relating to international trade in manufactured goods. These include: 1. Indexes of export prices for the U.S., Germany, and Japan, based on their weights, and indexes of competitors' prices for each of those countries based on the sane set of weights; 2. Indexes of domestic prices for the U. S., Germany, and Japan based on export weights; 3. Indexes for developed country exports of manufactures based on weights of developed country exports of manufactures to developing countries and of total developed country exports of manufactures, and indexes for exports of the U.S., Germany, and Japan on the sane sets of weights. The indexes for developed country exports make use of a method for estimating missing prices that takes account not only of contemporaneous price changes in the same country within the sane community groups, but also of price changes for the particular commodity in other countries. Comparisons are made between movements of domestic and export prices and between price indexes based on weights of early and late base years. In addition, an attempt is made to correct the price indexes for changes in the quality of some manufactured goods not usually taken account of in measures of export or import prices.

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This chapter was published in:
  • Peter Hooper & J. David Richardson, 1991. "International Economic Transactions: Issues in Measurement and Empirical Research," NBER Books, National Bureau of Economic Research, Inc, number hoop91-1, May.
  • This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 8430.
    Handle: RePEc:nbr:nberch:8430
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    1. Kravis, Irving B & Lipsey, Robert E, 1982. "Prices and Market Shares in the International Machinery Trade," The Review of Economics and Statistics, MIT Press, vol. 64(1), pages 110-16, February.
    2. Angermann, Oswald, 1980. "External Terms of Trade of the Federal Republic of Germany Using Differing Methods of Deflation," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 26(4), pages 367-85, December.
    3. Kenichi Ohno, 1989. "Export Pricing Behavior of Manufacturing: A U.S.: Japan Comparison," IMF Staff Papers, Palgrave Macmillan, vol. 36(3), pages 550-579, September.
    4. Robert E. Lipsey, 1963. "Price and Quantity Trends in the Foreign Trade of the United States," NBER Books, National Bureau of Economic Research, Inc, number lips63-1, May.
    5. Dornbusch, Rudiger, 1987. "Exchange Rates and Prices," American Economic Review, American Economic Association, vol. 77(1), pages 93-106, March.
    6. Richard C. Marston, 1989. "Pricing to Market in Japanese Manufacturing," NBER Working Papers 2905, National Bureau of Economic Research, Inc.
    7. Robert E. Lipsey, 1963. "Introduction to "Price and Quantity Trends in the Foreign Trade of the United States"," NBER Chapters, in: Price and Quantity Trends in the Foreign Trade of the United States, pages 3-7 National Bureau of Economic Research, Inc.
    8. repec:ucp:bknber:9780226304557 is not listed on IDEAS
    9. Irving B. Kravis & Robert E. Lipsey, 1971. "Price Competitiveness in World Trade," NBER Books, National Bureau of Economic Research, Inc, number krav71-1, May.
    10. Baldwin, Richard, 1988. "Hyteresis in Import Prices: The Beachhead Effect," American Economic Review, American Economic Association, vol. 78(4), pages 773-85, September.
    11. Summers, Robert, 1973. "International Price Comparisons Based Upon Incomplete Data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 19(1), pages 1-16, March.
    12. Sven W. Arndt & J. David Richardson, 1987. "Real-Financial Linkages Among Open Economies," NBER Working Papers 2230, National Bureau of Economic Research, Inc.
    13. Bushe, Dennis M & Kravis, Irving B & Lipsey, Robert E, 1986. "Prices, Activity, and Machinery Exports: An Analysis Based on New Price Data," The Review of Economics and Statistics, MIT Press, vol. 68(2), pages 248-55, May.
    14. Robert J. Gordon, 1990. "The Measurement of Durable Goods Prices," NBER Books, National Bureau of Economic Research, Inc, number gord90-1, May.
    15. Goldstein, Morris & Khan, Mohsin S., 1985. "Income and price effects in foreign trade," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 20, pages 1041-1105 Elsevier.
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