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Book Synopsis OffShoring Bias in U.S. Manufacturing: Implications for Productivity and Value Added by :
Download or read book OffShoring Bias in U.S. Manufacturing: Implications for Productivity and Value Added written by . This book was released on . Available in PDF, EPUB and Kindle. Book excerpt:
Author : Susan N. Houseman
Release : 2012
Genre :
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Book Synopsis Offshoring Bias in U.S. Manufacturing by : Susan N. Houseman
Download or read book Offshoring Bias in U.S. Manufacturing written by Susan N. Houseman. This book was released on 2012. Available in PDF, EPUB and Kindle. Book excerpt: The rapid growth of offshoring has sparked a contentious debate over its impact on the U.S. manufacturing sector, which has recorded steep employment declines yet strong output growth -- a fact reconciled by the notable gains in manufacturing productivity. We maintain, however, that the dramatic acceleration of imports from developing countries has imparted a significant bias to the official statistics. In particular, the price declines associated with the shift to low-cost foreign suppliers are generally not captured in input cost and import price indexes. Although cost savings are a primary driver of the shift in sourcing to foreign suppliers, the price declines associated with offshoring are not systematically observed; this is the essence of the measurement problem. To gauge the magnitude of these discounts, we draw on a variety of evidence from import price microdata from the Bureau of Labor Statistics, industry case studies, and the business press. To assess the implications of offshoring bias for manufacturing productivity and value added, we implement the bias correction developed by Diewert and Nakamura (2009) to the input price index in a growth accounting framework, using a variety of assumptions about the magnitude of the discounts from offshoring. We find that from 1997 to 2007 average annual multifactor productivity growth in manufacturing was overstated by 0.1 to 0.2 percentage point and real value added growth by 0.2 to 0.5 percentage point. Furthermore, although the bias from offshoring represents a relatively small share of real value added growth in the computer and electronic products industry, it may have accounted for a fifth to a half of the growth in real value added in the rest of manufacturing.
Author : Susan N. Houseman
Release : 2010
Genre : Labor productivity
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Book Synopsis Offshoring and the State of American Manufacturing by : Susan N. Houseman
Download or read book Offshoring and the State of American Manufacturing written by Susan N. Houseman. This book was released on 2010. Available in PDF, EPUB and Kindle. Book excerpt: The rapid growth of offshoring has sparked a contentious debate over its impact on the U.S. manufacturing sector, which has recorded steep employment declines yet strong output growth -- a fact reconciled by the notable gains in manufacturing productivity. We maintain, however, that the dramatic acceleration of imports from developing countries has imparted a significant bias to the official statistics. In particular, the price declines associated with the shift to low-cost foreign suppliers generally are not captured in input cost and import price indexes. To assess the implications of offshoring bias for manufacturing productivity and value added, we implement the bias correction developed by Diewert and Nakamura (2009) to the input price index in a growth accounting framework, using a variety of assumptions about the magnitude of the discounts from offshoring. We find that from 1997 to 2007 average annual multifactor productivity growth in manufacturing was overstated by 0.1 to 0.2 percentage point and real value added growth by 0.2 to 0.5 percentage point. Furthermore, although the bias from offshoring represents a relatively small share of real value added growth in the computer and electronic products industry, it may have accounted for a fifth to a half of the growth in real value added in the rest of manufacturing.
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Release : 1973
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Book Synopsis Paintings, Drawings, Bronzes and Prints... by :
Download or read book Paintings, Drawings, Bronzes and Prints... written by . This book was released on 1973. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mary Amiti
Release : 2005-12-01
Genre : Business & Economics
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Book Rating : 577/5 ( reviews)
Book Synopsis Service Offshoring, Productivity, and Employment by : Mary Amiti
Download or read book Service Offshoring, Productivity, and Employment written by Mary Amiti. This book was released on 2005-12-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates the effects of offshoring on productivity in U.S. manufacturing industries between 1992 and 2000, using instrumental variables estimation to address the potential endogeneity of offshoring. It finds that service offshoring has a significant positive effect on productivity in the US, accounting for around 11 percent of productivity growth during this period. Offshoring material inputs also has a positive effect on productivity, but the magnitude is smaller accounting for approximately 5 percent of productivity growth. There is a small negative effect of less than half a percent on employment when industries are finely disaggregated (450 manufacturing industries). However, this affect disappears at more aggregate industry level of 96 industries indicating that there is sufficient growth in demand in other industries within these broadly defined classifications to offset any negative effects.
