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International supply chains require the coordination of numerous activities across multiple countries and firms. This paper develops a theoretical model of supply chains in which the measure of tasks completed within a firm is determined by parameters that define transaction costs and the cost of coordinating more activities within the firm. The structural parameters that govern these costs explain variation in supply chain length as well as cross-country variation in gross-output-to-value-added ratios. The structural parameters are linked to comparative advantage along and across supply chains. The paper provides an analytical treatment of trade and welfare responses to trade cost change in a simple two-country model. To explore the models implications in a richer setting, the model is calibrated to match key observables in East Asia, and the calibrated model is used to evaluate implications of changes in model parameters for trade, welfare, the length of supply chains, and countries relative position within them.
Boundary of the firm --- Economic theory & research --- Emerging markets --- Fragmentation of production --- Free trade --- International economics & trade labor policies --- Macroeconomics and economic growth --- Private sector development --- Social protections and labor --- Trade in intermediate goods --- Trade policy --- Transaction costs
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The substantial increase in the complexity of global supply chains and other production arrangements over the past three decades has challenged some traditional measures of national income account aggregates and raised the potential for distortions in conventional calculations of GDP and productivity. This volume examines a variety of multinational business activities and assesses their impact on economic measurement.
Gross national product --- Globalization. --- Measurement. --- National accounts, national income and product accounts, multinational enterprises, Extended supply-use tables, Fragmentation of production, System of National Accounts, Transfer pricing, Profit shifting, Global value chains. --- Globalization --- Measurement
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International supply chains require the coordination of numerous activities across multiple countries and firms. This paper develops a theoretical model of supply chains in which the measure of tasks completed within a firm is determined by parameters that define transaction costs and the cost of coordinating more activities within the firm. The structural parameters that govern these costs explain variation in supply chain length as well as cross-country variation in gross-output-to-value-added ratios. The structural parameters are linked to comparative advantage along and across supply chains. The paper provides an analytical treatment of trade and welfare responses to trade cost change in a simple two-country model. To explore the models implications in a richer setting, the model is calibrated to match key observables in East Asia, and the calibrated model is used to evaluate implications of changes in model parameters for trade, welfare, the length of supply chains, and countries relative position within them.
Boundary of the firm --- Economic theory & research --- Emerging markets --- Fragmentation of production --- Free trade --- International economics & trade labor policies --- Macroeconomics and economic growth --- Private sector development --- Social protections and labor --- Trade in intermediate goods --- Trade policy --- Transaction costs
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