In this volume emanating from the National Bureau of Economic Research's programme in international economics, leading economists address recent developments in three important areas. The first section of the book focuses on international comparisons of output and prices, and includes papers that present new measures of product market integration, new methodology to infer relative factor price changes from quantitative data, and an ongoing capital stock measurement project. The next section features articles on international trade, including such significant issues as deterring child labour exploitation in developing countries, exchange rate regimes, and mapping US comparative advantage across various factors. The book concludes with research on multinational corporations and includes a discussion of the long-debated issue of whether growth of production abroad substitutes for or is complementary to production growth at home. The papers in the volume are dedicated to Robert E. Lipsey, who, for more than a half century at the NBER contributed significantly to the broad field of empirical international economics.
Magnus Blomstrom is a professor of international economics at the Stockholm School of Economics, the president of the European Institute of Japanese Studies, and a research associate of the National Bureau of Economic Research.Linda S. Goldberg is a function head and an assistant vice president of the International Research Function at the Federal Reserve Bank of New York and a faculty research fellow of the National Bureau of Economic Research."