Related Research Articles
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries. GDP is most often used by the government of a single country to measure its economic health. Due to its complex and subjective nature,this measure is often revised before being considered a reliable indicator.
Comparative advantage in an economic model is the advantage over others in producing a particular good. A good can be produced at a lower relative opportunity cost or autarky price,i.e. at a lower relative marginal cost prior to trade. Comparative advantage describes the economic reality of the work gains from trade for individuals,firms,or nations,which arise from differences in their factor endowments or technological progress.
Joseph Eugene Stiglitz is an American New Keynesian economist,a public policy analyst,and a full professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is a former senior vice president and chief economist of the World Bank. He is also a former member and chairman of the Council of Economic Advisers. He is known for his support for the Georgist public finance theory and for his critical view of the management of globalization,of laissez-faire economists,and of international institutions such as the International Monetary Fund and the World Bank.
Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currencies. PPP is effectively the ratio of the price of a basket of goods at one location divided by the price of the basket of goods at a different location. The PPP inflation and exchange rate may differ from the market exchange rate because of tariffs,and other transaction costs.
In economics,internationalization or internationalisation is the process of increasing involvement of enterprises in international markets,although there is no agreed definition of internationalization. Internationalization is a crucial strategy not only for companies that seek horizontal integration globally but also for countries that addresses the sustainability of its development in different manufacturing as well as service sectors especially in higher education which is a very important context that needs internationalization to bridge the gap between different cultures and countries. There are several internationalization theories which try to explain why there are international activities.
Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber products. Agricultural economics began as a branch of economics that specifically dealt with land usage. It focused on maximizing the crop yield while maintaining a good soil ecosystem. Throughout the 20th century the discipline expanded and the current scope of the discipline is much broader. Agricultural economics today includes a variety of applied areas,having considerable overlap with conventional economics. Agricultural economists have made substantial contributions to research in economics,econometrics,development economics,and environmental economics. Agricultural economics influences food policy,agricultural policy,and environmental policy.
The Stolper–Samuelson theorem is a basic theorem in Heckscher–Ohlin trade theory. It describes the relationship between relative prices of output and relative factor rewards—specifically,real wages and real returns to capital.
The Balassa–Samuelson effect,also known as Harrod–Balassa–Samuelson effect,the Ricardo–Viner–Harrod–Balassa–Samuelson–Penn–Bhagwati effect,or productivity biased purchasing power parity (PPP) is the tendency for consumer prices to be systematically higher in more developed countries than in less developed countries. This observation about the systematic differences in consumer prices is called the "Penn effect". The Balassa–Samuelson hypothesis is the proposition that this can be explained by the greater variation in productivity between developed and less developed countries in the traded goods' sectors which in turn affects wages and prices in the non-tradable goods sectors.
National accounts or national account systems (NAS) are the implementation of complete and consistent accounting techniques for measuring the economic activity of a nation. These include detailed underlying measures that rely on double-entry accounting. By design,such accounting makes the totals on both sides of an account equal even though they each measure different characteristics,for example production and the income from it. As a method,the subject is termed national accounting or,more generally,social accounting. Stated otherwise,national accounts as systems may be distinguished from the economic data associated with those systems. While sharing many common principles with business accounting,national accounts are based on economic concepts. One conceptual construct for representing flows of all economic transactions that take place in an economy is a social accounting matrix with accounts in each respective row-column entry.
The Heckscher–Ohlin model is a general equilibrium mathematical model of international trade,developed by Eli Heckscher and Bertil Ohlin at the Stockholm School of Economics. It builds on David Ricardo's theory of comparative advantage by predicting patterns of commerce and production based on the factor endowments of a trading region. The model essentially says that countries export the products which use their relatively abundant and cheap factors of production,and import the products which use the countries' relatively scarce factors.
International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries,including trade,investment and transaction.
Daniel Trefler is a Canadian economist who is currently the J. Douglas and Ruth Grant Chair in Competitiveness and Prosperity at the Rotman School of Management,University of Toronto. He is among the most influential and frequently cited economists worldwide.
New trade theory (NTT) is a collection of economic models in international trade theory which focuses on the role of increasing returns to scale and network effects,which were originally developed in the late 1970s and early 1980s. The main motivation for the development of NTT was that,contrary to what traditional trade models would suggest,the majority of the world trade takes place between countries that are similar in terms of development,structure,and factor endowments.
Intra-industry trade refers to the exchange of similar products belonging to the same industry. The term is usually applied to international trade,where the same types of goods or services are both imported and exported.
The gravity model of international trade in international economics is a model that,in its traditional form,predicts bilateral trade flows based on the economic sizes and distance between two units. Research shows that there is "overwhelming evidence that trade tends to fall with distance."
Andrew Barnes Bernard is an American economist,currently the Kadas T'90 Distinguished Professor at the Tuck School of Business at Dartmouth College in Hanover,New Hampshire,United States. He has been on the faculty at Tuck since 1999. He received his A.B. from Harvard and his Ph.D. from Stanford University in economics in 1991 and was on the faculty at MIT and Yale School of Management prior to coming to Tuck.
Elhanan Helpman is an Israeli economist who is currently the Galen L. Stone Professor of International Trade at Harvard University. He is also a Professor Emeritus at the Eitan Berglas School of Economics at Tel Aviv University. Helpman is among the thirty most cited economists in the world according to IDEAS/RePEc.
Alan W. Heston is an American economist best known for his collaborative work with fellow economist Robert Summers and the development of the Penn World Table (PWT).
The Penn World Table (PWT) is a set of national-accounts data developed and maintained by scholars at the University of California,Davis and the Groningen Growth Development Centre of the University of Groningen to measure real GDP across countries and over time. Successive updates have added countries,years (1950-2019),and data on capital,productivity,employment and population. The current version of the database,version 10,thus allows for comparisons of relative GDP per capita,as a measure of standard of living,the productive capacity of economies and their productivity level. Compared to other databases,such as the World Bank's World Development Indicators,the time period covered is larger and there is more data that is useful for comparing productivity across countries and over time.
International trade theory is a sub-field of economics which analyzes the patterns of international trade,its origins,and its welfare implications. International trade policy has been highly controversial since the 18th century. International trade theory and economics itself have developed as means to evaluate the effects of trade policies.
References
- ↑ "Feenstra, Robert C." LC Name Authority File. Library of Congress . Retrieved 26 July 2020.
- ↑ "Penn World Table version 9.1". 7 January 2021.
- 1 2 "Robert C. Feenstra - Google Scholar".
- ↑ "Bernhard Harms Prize".
- ↑ "Fellows of the Econometric Society 1950 to 2019".
- 1 2 "Robert Christopher Feenstra". 19 December 2022.
- ↑ "NBER Research Associates and Faculty Research Fellows".
- ↑ "Review of Economics and Statistics - Editorial Info".
- ↑ "Editors of the American Economic Review".
- ↑ "Editors of the American Economic Journal: Economic Policy".
- ↑ Feenstra, Robert C. (1994). "New Product Varieties and the Measurement of International Prices". The American Economic Review. 84 (1): 157–177. JSTOR 2117976.
- ↑ Feenstra, Robert C. (2010). Product Variety and the Gains from International Trade. The MIT Press. ISBN 9780262062800. JSTOR j.ctt5hhjpc.
- ↑ Feenstra, Robert C. (1998). "Integration of Trade and Disintegration of Production in the Global Economy". Journal of Economic Perspectives. 12 (4): 31–50. doi: 10.1257/jep.12.4.31 .
- ↑ Offshoring in the Global Economy. Ohlin Lectures. MIT Press. 30 December 2009. ISBN 9780262013833.
- ↑ "Penn World Table".
- ↑ "Interview: Robert Feenstra on tracking global economic milestones through data". 3 January 2018.
- ↑ "The Next Generation of the Penn World Table" (PDF).
- ↑ "Billion Prices Project".
- ↑ Feenstra, Robert C.; Xu, Mingzhi; Antoniades, Alexis (27 March 2019). "What is the Price of Tea in China? Goods Prices and Availability in Chinese Cities". SSRN 3361233.
- ↑ Feenstra, Robert C. (2018). "Restoring the product variety and pro-competitive gains from trade with heterogeneous firms and bounded productivity". Journal of International Economics. 110: 16–27. doi:10.1016/j.jinteco.2017.10.003. S2CID 13869686.
- ↑ "The Pro-competitive Effects of Market Size".
- ↑ Feenstra, Robert; Luck, Philip; Obstfeld, Maurice; Russ, Katheryn (2014). "In Search of the Armington Elasticity". Working Paper Series. doi: 10.3386/w20063 .
{{cite journal}}: Cite journal requires|journal=(help) - ↑ Feenstra, Robert C.; Ma, Hong; Xu, Yuan (2019). "US exports and employment". Journal of International Economics. 120: 46–58. doi:10.1016/j.jinteco.2019.05.002. S2CID 53835329.
| International | |
|---|---|
| National | |
| Academics | |
| Other | |
