Recent French Export Performance : Is There a Competitiveness Problem?.
Alain N. Kabundi
Bok Engelsk 2009 · Electronic books.
| Omfang | 1 online resource (75 pages)
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| Utgave | 1st ed.
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| Opplysninger | Intro -- Contents -- I. Introduction -- II. Data and Non-Stationarity -- A. Data -- B. Dealing with Non-Stationarity -- III. Descriptive Part: Facts Without the Noise -- IV. Analytical Part: ULCM and TOT Shocks -- A. The Model and Economic Conditions for Shocks Identification -- B. Estimation -- V. Econometric Results -- A. The 1990s Until Today -- VI. Conclusion and Policy Implications -- References -- Tables -- 1. Trend Exports per Destination -- 2. Trend Exports per Products SITC -- 3. Forecast Error Variance of the Common Components of French Variables Explained by the Supply and Demand Shocks to Unit Labor Costs in Manufacturing, 1980-2006 -- 4. Forecast Error Variance of the Common Components of German Variables Explained by the Supply and Demand Shocks to Unit Labor Costs in Manufacturing, 1980-2006 -- 5. Forecast Error Variance of the Common Components of French Variables Explained by the Supply and Demand Shocks to Terms of Trade, 1980-2006 -- 6. Forecast Error Variance of the Common Components of German Variables Explained by the Supply and Demand Shocks to Terms of Trade, 1980-2006 -- 7. Forecast Error Variance of the Common Components of French Variables Explained by the Supply and Demand Shocks to ULCM, 1993-2006 -- 8. Forecast Error Variance of the Common Components of German Variables Explained by the Supply and Demand Shocks to ULCM, 1993-2006 -- Figures -- 1. Cyclical Part -- 2. Trend Part -- Appendices -- I. The Corbae-Ouliaris Ideal Band-Pass Filter -- II. The Approximate Dynamic Factor Model -- Annexes -- I. Macroeconomic Series -- II. France and Germany: Shocks to ULCM and TOT.. - Recently, the export performance of France relative to its own past and relative to a major trading partner, Germany, deteriorated. That deterioration seems related to the geographical destination and product composition of trend exports. Faced with an increase in unit labor costs or in its terms of trade, France adjusts relatively less via price and wage changes, and more via employment changes. Given that SMIC convergence resulted in a significant increase in unit labor costs, foreign sector difficulties might be structural. Trade flows relevance and euro area policy constraints highlight the importance of structural reforms that increase markets flexibility.
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| ISBN | 9781451915853
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