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times more than real GDP in the U.S. and Mexico, and by a factor of five in Canada. The decline in trade and output was … benchmark calibration can account for 72% of the fall in output in Canada, 19% of the fall in output in Mexico, and about two …
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The aim of this work is to analyze the relationship between inequality and economic growth. The results obtained by previous empirical papers were mixed. Authors such as Persson and Tabellini (1991) or Alesina and Rodrik (1994), in fact, find evidence of a negative relationship between the two...
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International trade is frequently thought of as a production technology in which the inputs are exports and the outputs are imports. Exports are transformed into imports at the rate of the price of exports relative to the price of imports: the reciprocal of the terms of trade. Cast this way, a...
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