Showing 1 - 10 of 418
of the relative price changes is developed based on applying the analysisof business cycles developed by Joseph … price and output changes over the medium term of the next decade or two. …
Persistent link: https://www.econbiz.de/10009434781
of the relative price changes is developed based on applying the analysis of business cycles developed by Joseph … price and output changes over the medium term of the next decade or two. …
Persistent link: https://www.econbiz.de/10009434784
exports price effects. Thenumerical examples show that even in unilateral liberalisation with decreasing import tariffs …, thewelfare effects are dominated by domestic price level changes that also drive the exports prices. Thenumerical examples are …
Persistent link: https://www.econbiz.de/10009443257
volume of trade. In particular, the price effect in substitutability between foreign and home products and endogeneity of the … foreign price provide evidence for the indirect impact of the exchange rate on home price. Furthermore, elasticity of … price elasticity of import demand is less than one. …
Persistent link: https://www.econbiz.de/10009445817
Despite the voluminous literature on North-South macroeconomic interactions and the key role of terms of trade variations in growth transmission from one region to another, a significant research gap persists for two reasons. First, there has been very little empirical work on testing of the...
Persistent link: https://www.econbiz.de/10009467997
This paper derives the balance of payments-constrained growth (BPCG) model as a special case of a three good framework that incorporates ex- portables, importables, and non-tradables. The conditions under which the canonical form of the BPCG rate can be derived are made explicit and the...
Persistent link: https://www.econbiz.de/10009468016
Many developing countries have adopted investor-friendly policies in recent years in order to attract export-oriented foreign direct investment (FDI). The effects of these policies on the external accounts have been largely ignored. This paper endogenizes FDI inflows in a structuralist general...
Persistent link: https://www.econbiz.de/10009468023
The paper examines the impact of terms of trade shocks on private savings in the transition economies after accounting for the effect of other determinants. Economic agents in the transition economies are subject to tight credit constraints which are more pronounced during bad state of nature....
Persistent link: https://www.econbiz.de/10009477481
One of the fundamental normative questions within international trade theory is whether free trade is better than autarky and, if so, in what sense and to what extent. Surprisingly, the literature contains just a few formal models constructed under discrete time and investigating the...
Persistent link: https://www.econbiz.de/10009452613
One of the most striking features of the world economy is that wealthy countries are clustered together. This paper theoretically and empirically explains a mechanism for this clustering by extending the Acemoglu and Ventura model so that it takes real geography into account. Countries close to...
Persistent link: https://www.econbiz.de/10012530139