This two-volume set of technical economics documents missing data and biases in national statistics due to rapid globalization. The editors state their belief that an accurate description of
global links among nations, businesses, and individuals is essential to good policy development. Volume 1 consists of 10 essays in three parts. Part 1 is titled "Trade-Related Biases to Price
Indexes: Theory." The essays in that part are: "Sourcing Substitution and Related Price Index Biases," "Assessing Price Indexes for Markets with Trading Frictions: A Quantitative Illustration,"
and "Specific Trade Costs, Quality, and Import Prices." Part 2 is titled "Evidence of Biases to Statistics and Measuring Industry Competitiveness." It contains the following essays: "Measuring
Manufacturing: How the Computer and Semiconductor Industries Affect the Numbers and Perceptions," "Import Sourcing Bias in Manufacturing Productivity Growth: Evidence Across Advanced and
Emerging Economies," "Biases to Manufacturing Statistics from Offshoring: Evidence from Japan," and "Import Allocation Across Industries, Import Prices Across Countries, and Estimates of
Industry Growth and Productivity." Part 3, "Eliminating Biases: Proposals to Improve Price Statistics," contains "The Impact of Globalization on Prices: A Test of Hedonic Price Indexes for
Imports" and "Producing An Input Price Index." Volume 2 covers three areas where current statistical methods fall short: factoryless manufacturing, value-added trade in supply chains, and trade
in services and intangibles. Chapters 2 through 4 outline factoryless manufacturinig, a new category of industrial classification that augments the current data on global supply chains.
Chapters 5 to 7 examine value-added trade and its measurement. Chapters 8 and 9 get into issues of cross-border flow of intangibles and data. Annotation ©2015 Ringgold, Inc., Portland, OR
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