Productivity Growth and Changes in the Terms of Trade in Japan and the U.S. / Catherine J. Morrison, W. Erwin Diewert.

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Morrison, Catherine J

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w1848.Publication details: Cambridge, Mass. National Bureau of Economic Research 1986.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: In this paper we employ a recently proposed procedure (Dlewert and Morrison[1985]) for adjusting real domestic product and productivity for changes in a country's terms of trade. We apply this procedure to a comparison of two major industrialized countries, the U.S. and Japan. The approach is based on assessing the impact on, alternatively, production or final sales to domestic purchasers, of changes in terms of trade and the balance of payments deficit in a consistent accounting framework. This treatment of international trade allows for comparative statics analysis based only on production theory. The comparison is carried out for a relatively open economy, Japan, with an economy that may not be as vulnerable to terms of trade changes, the U.S. for the years 1967 to 1982.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w1848 (Browse shelf(Opens below))	Not For Loan

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March 1986.

In this paper we employ a recently proposed procedure (Dlewert and Morrison[1985]) for adjusting real domestic product and productivity for changes in a country's terms of trade. We apply this procedure to a comparison of two major industrialized countries, the U.S. and Japan. The approach is based on assessing the impact on, alternatively, production or final sales to domestic purchasers, of changes in terms of trade and the balance of payments deficit in a consistent accounting framework. This treatment of international trade allows for comparative statics analysis based only on production theory. The comparison is carried out for a relatively open economy, Japan, with an economy that may not be as vulnerable to terms of trade changes, the U.S. for the years 1967 to 1982.