Corsetti, Giancarlo (contributor); … - 2005
).
Thispaperprovidesastylizedanalysisofthewelfareimplicationsofinternationalspillovers.
We analyze the determinants of the terms of trade and the world pattern of production
within the framework of a two … that international trade contributes to
a stable world income distribution, as emphasized by Acemoglu and Ventura (2002).
1 … down the overall supply of varieties in the
world economy. Although higher e� ciency raises the scale of production of …