The location of overseas manufacturing production by U.S. firms seems to have been strongly influenced by common factors that operate in all industries: notably proximity to the United States and to other markets. Within industries, the choices made by parent firms among locations appear to show...

This paper reviews the International Comparison Program (ICP), a worldwide effort to produce international comparisons of real GDP and its components and purchasing power parities of currencies (PPPs). The robustness of results and future work are considered.<br><br>A generous estimate of margins of...

The purpose of this paper is to contribute some new measurements to t112 discussion of trends in the terms of trade between manufactured goods exports of developed countries and primary product exports of developing countries. The new measures are manufactured goods price indexes that are...

Direct investment in foreign countries by U.S. goods industries represents a response to differences in labor costs to a much greater extent than the more rapidly growing investment by service industries. The latter seem to be less able to allocate different types of production to different...

We use new international price measures we have developed for machinery and transport equipment to explain changes in exports and export shares of the United States, Germany, and Japan. The effects of relative price changes on export shares are fairly large, producing relative quantity changes...

The purpose of this paper is to describe the behavior of that subset of prices and price indexes that is relevant to the theory of balance of payments adjustment. The theoretical writings on the balance of payments may be viewed at this juncture as falling into two main groups -- the "standard"...

A new interest in the role of services in world transactions has been generated by the current efforts of the U. S. Government to reduce barriers to international trade in services.The paper distinguishes four different classifications of economic activities between services and corrmodities....

The present paper is intended to make a modest contribution to an under-standing of one small but important link in this complicated chain of interacting factors. It is a link that has often been ignored because strong simplifying assumptions have until very recently usually been made about it....

The purpose of this paper is to present, and to explain the construction of, a set of price indexes relating to international trade in manufactured goods. These include: 1. Indexes of export prices for the U.S., Germany, and Japan, based on their weights, and indexes of competitors' prices for...

The belief that the U.S. is a nation of spendthrifts, unwilling to pro- vide for the future, rests on observations of particular narrow definitions of capital formation, on the use of nominal values that ignore inter- national differences in the relative prices of capital goods, and on...