Impact of ending currency manipulation, U.S. and Ohio economies and employment, 2014*

United States Ohio
Low impact High impact Low impact High impact
Impact as measured by increase**
Net goods exports (ex ante) (billions of 2010 dollars) $190.50 $399.50  –  –
Net goods exports (ex post) (billions of 2010 dollars)*** $184.06 $387.46  –  –
Gross domestic product (billions of 2010 dollars) $225.02 $473.68 $8.26 $17.41
Jobs 2,249,400 4,735,100 94,900 199,700
Employee compensation (billions of 2010 dollars) $112.99 $237.84 $4.72 $9.94
Employee share of GDP increase 50.2% 50.2% 57.1% 57.1%

* This table estimates the effects of ending currency manipulation over three years, modeled as having started in 2011.
** Impact in 2014 compared with baseline of no policy change
*** The IMPLAN model used to calculate real-world effects of an estimated $190.5 billion (low impact) to $399.5 billion (high impact) increase in net exports adjusts for the fact that GDP growth from direct stimulus to net exports would boost consumer spending on imports, slightly offsetting the growth in exports. (See methodological appendix for further details on the IMPLAN model.)

Source: Authors' analysis of trade data from the U.S. International Trade Commission (2012), Bureau of Labor Statistics (2012a; 2012b), Bureau of Labor Statistics Office of Employment Projections (2011), and IMPLAN model (MIG Inc. 2012)

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