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Mind Your P’s and Q’s Engaging Business in Measuring the US in the Global Economy

Mind Your P’s and Q’s Engaging Business in Measuring the US in the Global Economy. Catherine L. Mann International Business School, Brandeis University. Measuring and Enhancing Services Trade Data Department of Commerce September 14, 2010. What are the Issues?. Economic Issues

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Mind Your P’s and Q’s Engaging Business in Measuring the US in the Global Economy

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  1. Mind Your P’s and Q’sEngaging Business in Measuring the US in the Global Economy Catherine L. Mann International Business School, Brandeis University Measuring and Enhancing Services Trade Data Department of Commerce September 14, 2010

  2. What are the Issues? • Economic Issues • Embedded vs. fragmented • Classification Issues • Purpose vs politicization of data • Business Issues • Taxes, transfer pricing, proprietary

  3. Who Cares and Why? • Monetary policy • international prices, domestic inflation • Fiscal policy • ‘leakage’ of stimulus • Trade policy • Outcome for trade, FDI

  4. Who Cares and Why? • Measurement (*Politics*) • GDP, jobs • Researchers • Theory, evidence • Business • Benchmarking

  5. Mind your P’s and Q’s Integrated P and Q: ‘No’ Services, all domestic Design Production of Robots Tech Support Software Price index for robots: integrates mfg and services, all on-shore Quantity Index for robot: all mfg, services netted out.

  6. Mind your P’s and Q’s Fragmented P and Q: ‘All’ Services! Very Global Contract Mfg (Foreign Firm) O C E A N Design of Robot (IP) Software Coding (Foreign Firm) Tech support (US parent) Software (design & integration) Price index for robots: ‘no’ mfg, all services, IP, lots off-shore Quantity Index for robot: Domestic, international, affiliated, unaffiliated

  7. Mind your P’s and Q’sEngaging Business: Gathering the Data • Business Data • Strategic decisions based on Price/cost • Business Issues • Tax havens, transfer pricing • Proprietary deals • Politics

  8. Mind your P’s and Q’sEngaging Business: Data Benchmarking • Benchmarking is the value add • US statistical agencies partner with trade associations, private aggregators • Issues • Classification • Confidentiality • Official imprimatur • Fear of what the data reveal

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