Measuring Competitiveness

September 1, 2006

Preview Citation

Format: Chicago

J. Peter Neary Measuring Competitiveness, (USA: International Monetary Fund, 2006) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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 that highlight the potential exposure of the Irish economy to fluctuations in the euro-sterling exchange rate.

Subject: Competition, Consumer price indexes, Cost of living, Employment, Real effective exchange rates

Keywords: Consumer price index, Price elasticity of supply, WP

Publication Details

Pages:

21
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2006/209
Stock No:

WPIEA2006209
ISBN:

9781451864694
ISSN:

1018-5941

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