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Trade and Indeterminacy in a Dynamic General Equilibrium Model
Shimomura, Koji; Nishimura, Kazuo - Research Institute for Economics and Business … - 2001
This paper introduces sector-specific externalities in the Heckscher-Ohlin two-country dynamic general equilibrium … model to show that indeterminacy of the equilibrium path in the would market can occur. Under certain conditions in terms of … factor intensities, there are multiple equilibrium paths from the same initial distribution of capital in the world market …
Persistent link: https://www.econbiz.de/10005650727
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Human capital, the structure of production, and growth
Ciccone, Antonio; Papaioannou, Elias - 2006
Do high levels of human capital foster economic growth by facilitating technology adoption? If so, countries with more human capital should have adopted more rapidly the skilled-labor augmenting technologies becoming available since the 1970’s. High human capital levels should therefore have...
Persistent link: https://www.econbiz.de/10011604669
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Demographics and FDI: Lessons from China's one-child policy
Donaldson, John B.; Koulovatianos, Christos; Li, Jian; … - 2018
Following the introduction of the one-child policy in China, the capital-labor (K/L) ratio of China increased relative to that of India, and, simultaneously, FDI inflows relative to GDP for China versus India declined. These observations are explained in the context of a simple neoclassical OLG...
Persistent link: https://www.econbiz.de/10011936365
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The EAGLE model for Hungary: A global perspective
Békési, Lászlo; Kaszab, Lóránt; Szentmihályi, Szabolcs - 2017
In this paper we adopt the Hungarian version of the EAGLE (Euro Area GLobal Economy) model. The version of the EAGLE model used in this paper allows for the high import content of export - a typical feature of small open economies such as Hungary. We study the effects of four globally important...
Persistent link: https://www.econbiz.de/10011942848
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Macroprudential policies in the EAGLE FLI model calibrated for Hungary
Fukker, Gábor; Kaszab, Lóránt - 2019
In this paper we develop the Hungarian version of the EAGLE FLI (Euro Area GLobal Economy model with Financial LInkages) model which is the EAGLE model enriched with financial frictions and country-specific banking sector. The EAGLE FLI features the intermediation of loanable funds (ILF) view in...
Persistent link: https://www.econbiz.de/10012271230
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Outward-Orientation and Development: Are Revisionists Right
Srinivasan, T. N.; Bhagwati, Jagdish - 1999
The costs of import substitution (IS) as a strategy for industrialization, which was deemed synonymous with economic development by many development economists of the fifties and sixties, were shown to be substantial in the influential and nuanced studies of the seventies and eighties under the...
Persistent link: https://www.econbiz.de/10010369159
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Is there a short-run case for protectionism? Trade policy and the business cycle
Larch, Mario; Lechthaler, Wolfgang - 2011
Recently, the world economy has seen its greatest down turn since World War II. Although not as bad as during the Great Depression, there was still a worrisome increase in protectionist measures, in an attempt to mitigate the economic downturn. Protectionism can have many different faces. It can...
Persistent link: https://www.econbiz.de/10010285719
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Is there a short-run case for protectionism? : Trade policy and the business cycle
Larch, Mario; Lechthaler, Wolfgang - 2011
Recently, the world economy has seen its greatest down turn since World War II. Although not as bad as during the Great Depression, there was still a worrisome increase in protectionist measures, in an attempt to mitigate the economic downturn. Protectionism can have many different faces. It can...
Persistent link: https://www.econbiz.de/10009162112
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Reconsidering Logics of International Trade Models
Kim, Bryce - 2017
equilibrium is required. Law of One Price, in light these considerations, does not hold automatically in the market and rather …
Persistent link: https://www.econbiz.de/10012958749
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A Tale of Many Cities : Industrial Networks and Urban Productivity
Yu, Wenting - 2019
This paper examines how changes in urban industrial network structures explain the growth rates of labor productivity in cities. I formulate a multi-sector general equilibrium model with input-output networks of firms within a city and trade across cities. A key input to this framework is an...
Persistent link: https://www.econbiz.de/10012896955