Capital Services in Global Value Chains

Clicks: 9
ID: 322838
2026
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Abstract
Abstract This paper constructs the first global dataset on inter-sectoral capital service expenditures. I use this data to disaggregate capital services and intermediate inputs in a dynamic multi-sector trade model. Steady state allocations and responses to shocks are determined by a capital-augmented global input-output matrix. Two properties of the measured network deliver larger long-run consumption gains from globalization than existing estimates, as well as larger gains in more capital-intensive countries. First, more trade-exposed sectors supply capital to more consumption-influential producers. Second, heterogeneity in the network reallocates sectoral expenditures towards producers with larger declines in capital rental prices. These reallocations raise capital incomes and lower consumption price indices.
Reference Key
openalex_W7171485853 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Xiang Ding
Journal the quarterly journal of economics
Year 2026
DOI
10.1093/qje/qjag041
URL
https://doi.org/10.1093/qje/qjag041
Keywords Keywords not found

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