Author : Mr.Anthony G. Turner
Publisher : International Monetary Fund
ISBN 13 : 1451922884
Total Pages : 47 pages
Book Rating : 4.4/5 (519 download)
Book Synopsis Towards a System of Multilateral Unit Labor Cost-Based Competitiveness Indicators for Advanced, Developing, and Transition Countries by : Mr.Anthony G. Turner
Download or read book Towards a System of Multilateral Unit Labor Cost-Based Competitiveness Indicators for Advanced, Developing, and Transition Countries written by Mr.Anthony G. Turner and published by International Monetary Fund. This book was released on 1997-11-01 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to extend the range of countries covered by the IMF’s multilateral real exchange rate indexes based on relative unit labor costs (REER-ULCs) in manufacturing. A data set was assembled that permits calculation of REER-ULCs for 23 newly industrialized, developing, and transition countries in addition to the 21 industrial countries covered by the current system. Although the results are mostly quite encouraging, they should be considered preliminary because of uncertainty about the reliability and comparability of the underlying data. Also, unit labor costs are not available on as timely a basis as consumer price indexes (CPIs), especially for nonindustrial countries. Thus, the ULC-based indicators should supplement rather than replace the current CPI-based system.