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People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World … official, international organizations like the WTO, the International Monetary Fund (IMF), the World Bank, nongovernmental and …
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What are the dynamic consequences of comprehensive integration shocks? The answer to this question appears all but trivial. We set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level....
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