Are we underestimating the gains from globalization for the United States?

Over the last three decades, trade has more than tripled the variety of international goods available to U.S. consumers. Although an increased choice of goods clearly enhances consumer well-being, standard national measures of welfare and prices do not assign a value to variety growth. This analysis-the first effort to measure such gains-finds that the value to consumers of global variety growth in the 1972-2001 period was roughly $260 billion.

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Year of publication:	2005
Authors:	Broda, Christian ; Weinstein, David
Published in:	Current Issues in Economics and Finance. - Federal Reserve Bank of New York. - Vol. 11.2005, Apr, 4
Publisher:	Federal Reserve Bank of New York
Subject:	Globalization \| International trade \| Consumers \| Quality of life

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Extent:	text/html application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005717172