Koopman et al. (2014) developed a method to consistently decompose gross exports in value-added terms that accommodate infinite repercussions of international and inter-sector transactions. This provides a better understanding of trade in value added in global value chains than does the conventional gross exports method, which is affected by double-counting problems. However, the new framework is based on monetary input--output (IO) tables and cannot distinguish prices from quantities; thus, it is unable to consider financial adjustments through the exchange market. In this paper, we propose a framework based on a physical IO system, characterized by its linear programming equivalent that can clarify the various complexities relevant to the existing indicators and is proved to be consistent with Koopman's results when the physical decompositions are evaluated in monetary terms. While international monetary tables are typically described in current U.S. dollars, the physical framework can elucidate the impact of price adjustments through the exchange market. An iterative procedure to calculate the exchange rates is proposed, and we also show that the physical framework is also convenient for considering indicators associated with greenhouse gas (GHG) emissions.
権利
Copyrights 日本貿易振興機構（ジェトロ）アジア経済研究所 / Institute of Developing Economies, Japan External Trade Organization (IDE-JETRO) http://www.ide.go.jp
雑誌名
IDE Discussion Paper
雑誌名(英)
IDE Discussion Paper
巻
563
発行年
2016-03-01
出版者
Institute of Developing Economies (IDE-JETRO)
著者版フラグ
publisher
日本十進分類法
678
JEL分類
JEL:C65 - Miscellaneous Mathematical Tools
JEL:Q56 - Environment and Development; Sustainability; Environmental Accounting
JEL:R15 - Econometric and Input Output Models; Other Models
地域/国名
世界、その他
キーワード(LSH)
International trade
Input-output tables
Trade in value-added
Global value chain
Input-output
A unified framework of trade in value added : physical, monetary, exchange rates, and GHG emissions
本文
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