Real and Financial Models of Real Exchange Rates and        Competitiveness
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Daniel H. Newlon', 'PO_EMAI': None, 'PO_PHON': None}
The continuing integration of the international economy requires that           economic analysts take into account the potential effects on trade              relationships of the various policies and incentives affecting                  production.  Empirical research has shown that the goods produced by a          country can be categorized by one of two groups.  These are tradeable           goods, which occupy a place in the international market, and                    nontradeable goods, which for many reasons, for example  consumer               taste or nontransportability, are sold only domestically.  For                  instance, if the preferences of the consumers in a country do not               include eating certain kinds of meats or dairy products, that country           will not purchase them on the world market.  To a country producing             those goods, they are considered nontradeable.  However, there might            well be a spirited domestic market for the same goods in the producing          country.   Likewise goods like services, houses and buildings, scenic           areas, and many other commodities cannot be traded amoung countries.            This project examines the prices of traded goods relative to prices of          nontraded goods and develops models of the international economy more           detailed and informative than were heretofore available.                                                                                                        Porfessor Leamer has developed the concept of a "real exchange rate"            for goods.  In essence this rate is the overall price of traded goods           relative to the price of nontraded goods incorporating the effects of           inflation.  Variation in the real exchange rate can account for much            of the international economic status of a country.  For instance, if            the real exchange rate declines, producers of exports and import-               competing goods realize smaller and smaller profits, and are unable to          compete with foreign producers.  In a word, the country loses its               "competitiveness" on the world market.  This might be due to real               events inherent in the economy, or it might be the undesireable                 consequences of government policy.                                                                                                                              This project makes an important contribution to the literature on               international ecomomics by deriving statistically consistent measures           of the real exchange rate.  Professor Leamer applies these models to            various government monetary and fiscal policies to test their effects.
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{'Name': 'University of California-Los Angeles', 'CityName': 'LOS ANGELES', 'ZipCode': '900244200', 'PhoneNumber': '3107940102', 'StreetAddress': '10889 WILSHIRE BLVD STE 700', 'StreetAddress2': None, 'CountryName': 'United States', 'StateName': 'California', 'StateCode': 'CA', 'CONGRESSDISTRICT': '36', 'CONGRESS_DISTRICT_ORG': 'CA36', 'ORG_UEI_NUM': 'RN64EPNH8JC6', 'ORG_LGL_BUS_NAME': 'UNIVERSITY OF CALIFORNIA, LOS ANGELES', 'ORG_PRNT_UEI_NUM': None}
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{'Code': '1320', 'Text': 'Economics'}
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