We are delighted to invite you to the next BEA’s Online Research Seminars, and are pleased to welcome Rudolfs Bems (IMF). Rudolfs Bems is an Economist at the Research Department of the IMF. His research interests fall in the general field of international macroeconomics with a focus on applied work. He has published in leading academic journals such as the American Economic Review and the Journal of International Economics. He holds a Ph.D. in Economics from Stockholm School of Economics and an MA in Economics from New York University. Prior to the IMF, he was an Economist at the Research Department of the ECB and has held positions at the University of Tokyo and Bank of Latvia.
More about the speaker: https://sites.google.com/site/rudolfsbems/
Speaker: Rudolfs Bems (IMF)
Co-author: Ken Kikkawa (UBC Sauder School of Business)
Abstract: Global Value Chains have proliferated economic policy debates. Yet a key concept—trade in value added—is likely mismeasured because of sectoral aggregation bias stemming from reliance on input-output tables. This paper uses comprehensive firm-level data on both domestic and international transactions to study this bias. We find that sectoral aggregation leads to overstated trade in value added and, correspondingly, understated import content of gross exports. The economic magnitude of the estimated bias varies from moderate to large—at 2-5 pp of gross exports for Belgium and 17 pp for China. We study how the interplay between within-sector heterogeneities in firm import and export intensities and firm size determine the magnitude of the sectoral aggregation bias.
Date: Thursday, November 19
Time: 17:00 Vilnius, Riga, Tallinn
Zoom Dial-In Details:
Topic: BEA seminar
Time: Nov 19, 2020 05:00 PM Riga/Tallinn/Vilnius
Join Zoom Meeting
Meeting ID: 867 3764 0159
Facilitator: Konstantins Benkovskis (Bank of Latvia, Stockholm School of Economics in Riga)