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The International Transmission of Credit Bubbles : Theory and Policy

Ventura, Jaume - 2015

propagated abroad. In previous work, we built on the theory of rational bubbles to develop a framework to think about the origins …

Persistent link: https://www.econbiz.de/10013028542

Real Wages and the Terms of Trade : Alternative Indexation Rules for an Open Economy

Marston, Richard C. - 2021

This paper examines the desirability of wage indexation in an open economy subject to economic disturbances which change the terms of trade and raise the prices of imported goods. Two indexation rules are considered, the traditional form of indexation to the consumer price index and indexation...

Persistent link: https://www.econbiz.de/10013228637

Adjusting Output and Productivity Indexes for Changes in the Terms of Trade

Diewert, W. Erwin; Morrison Paul, Catherine J. - 2022

In this paper we employ index number theory in addressing the problem of adjusting real national income and real … domestic product for changes in a country's terms of trade. More specifically, using recent developments in the theory of … only production theory, whereas in the traditional paradigm which treats traded goods as perfectly substitutable with a …

Persistent link: https://www.econbiz.de/10013324490

Quality Change and Other Influences on Measures of Export Prices of Manufactured Goods and the Terms of Trade between Primary Products and Manufacture

Lipsey, Robert E. - 2022

Measures of long term trends in world export prices of manufactured goods and in the terms of trade between manufactured goods and primary products are sensitive to the choice of country weights and of base periods and, most important of all, the treatment of quality change. Later base periods...

Persistent link: https://www.econbiz.de/10013324614

Trade Orientation, Distortions and Growth in Developing Countries

Edwards, Sebastian - 2010

In this paper I use a cross country data set to analyze the relationship between trade orientation, trade distortions and growth. I first develop a simple endogenous growth model that emphasizes the process of technological absorption in small developing countries. According to this model...

Persistent link: https://www.econbiz.de/10013138665

Growth and Welfare in a Small Open Economy

Grossman, Gene M. - 2010

We construct a model of growth based on endogenous technological change in a small, open economy. Entrepreneurs develop new intermediate products whenever the present value of potential profits exceeds the cost of R&D. Diversity of intermediates contributes to total factor productivity in the...

Persistent link: https://www.econbiz.de/10013139328

Market Access, Openness and Growth

Romalis, John - 2010

This paper identifies a causal effect of openness to international trade on growth. It does so by using tariff barriers of the United States as instruments for the openness of developing countries. Trade liberalization by a large trading partner causes an expansion in the trade of other...

Persistent link: https://www.econbiz.de/10012760120

The Global Spatial Distribution of Economic Activity : Nature, History, and the Role of Trade

Henderson, J. Vernon - 2016

We study the distribution of economic activity, as proxied by lights at night, across 250,000 grid cells of average area 560 square kilometers. We first document that nearly half of the variation can be explained by a parsimonious set of physical geography attributes. A full set of country...

Persistent link: https://www.econbiz.de/10012994896

Economic Integration and Endogenous Growth

Rivera-Batiz, Luis A.; Romer, Paul M. - 2021

In a world with two similar, developed economies, economic integration can cause a permanent increase in the worldwide rate of growth. Starting from a position of isolation, closer integration can be achieved by increasing trade in goods or by increasing flows of ideas. We consider two models...

Persistent link: https://www.econbiz.de/10013215362

Trade Strategy, Investment, and Exports : Another Look at East Asia

Rodrik, Dani - 2021

The export booms in South Korea and Taiwan starting in the early 1960s are anomalous when compared with later export booms in other, non-East Asian countries such as Chile and Turkey. First, these booms have taken place in the context of comparatively small changes in relative prices in favor of...

Persistent link: https://www.econbiz.de/10013217208