Measuring Competitiveness

J. Peter Neary

No 2006/209, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; consumer price index; price elasticity of supply (search for similar items in EconPapers)
Pages: 21
Date: 2006-09-01
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Citations: View citations in EconPapers (9)

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Related works:
Journal Article: Measuring Competitiveness (2006)
Working Paper: Measuring Competitiveness (2006)
Working Paper: Measuring competitiveness (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2006/209

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