International Trade And Macroeconomic Dynamics
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International Trade And Macroeconomic Dynamics With Heteroegenous Firms
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Author : Fabio Ghironi
language : en
Publisher:
Release Date : 2004
International Trade And Macroeconomic Dynamics With Heteroegenous Firms written by Fabio Ghironi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
International Trade And Macroeconomic Dynamics With Heterogeneous Firms
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Author : Fabio Ghironi
language : en
Publisher:
Release Date : 2004
International Trade And Macroeconomic Dynamics With Heterogeneous Firms written by Fabio Ghironi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business cycles categories.
"We develop a stochastic, general equilibrium, two-country model of trade and macroeconomic dynamics. Productivity differs across individual, monopolistically competitive firms in each country. Firms face a sunk entry cost in the domestic market and both fixed and per-unit export costs. Only relatively more productive firms export. Exogenous shocks to aggregate productivity and entry or trade costs induce firms to enter and exit both their domestic and export markets, thus altering the composition of consumption baskets across countries over time. In a world of flexible prices, our model generates endogenously persistent deviations from PPP that would not exist absent our microeconomic structure with heterogeneous firms. It provides an endogenous, microfounded explanation for a Harrod-Balassa-Samuelson effect in response to aggregate productivity differentials and deregulation. Finally, the model successfully matches several moments of U.S. and international business cycles"--NBER website
Essays On International Trade And Macroeconomic Dynamics
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Author : Keyu Jin
language : en
Publisher:
Release Date : 2009
Essays On International Trade And Macroeconomic Dynamics written by Keyu Jin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
The second essay incorporates endogenous factor-proportions trade into an inter-national business cycle setting and demonstrates that the integrated framework substantially improves upon past, standard models that assume exogenously-determined structures of trade in matching key moments of the international business cycle data, resolving the "anomalies" that arise in the standard framework. An additional implication is that the type of trade rather than overall trade between countries matters: countries trading goods that are similar in factor intensity (intraindustry trade) tend to exhibit negative investment comovement while countries whose trade is characterized by more disparate factor content tend to exhibit greater investment comovement. The third essay, on a portfolio perspective of international capital flows, analyzes a useful accounting framework that breaks down the current account to two components: a portfolio reallocation effect and a portfolio growth effect. Past empirical evidence strongly supporting the growth-effect as the main driver of current account dynamics is misconceived. Its remarkable empirical success is driven by the dominance of the cross-sectional variation, which, under conditions met by the data, is generated by an accounting approximation. Finally, this chapter shows that the portfolio reallocation effect is the quantitatively dominant driving force of current account dynamics in the past data.
Vertical Linkages International Trade And Macroeconomic Dynamics
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Author : Nico Zorell
language : en
Publisher:
Release Date : 2012
Vertical Linkages International Trade And Macroeconomic Dynamics written by Nico Zorell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Dynamics categories.
International Trade And Macroeconomic Dynamics
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Author : Jason M. Walter
language : en
Publisher:
Release Date : 2016
International Trade And Macroeconomic Dynamics written by Jason M. Walter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The short- and long-run effects of exchange rates, income, interest rates and government spending on U.S. bilateral trade with the other G-7 countries are investigated using an autoregressive distributed lag (ARDL) model. The primary contribution of this study is to consider separating the analysis of exports and imports in an integrated model that empirically encompasses four major schools of thoughts - elasticity, Keynesian income, absorption and monetary approaches - in order to identify macroeconomic linkages to U.S. bilateral trade with the other G-7 countries accurately. Results suggest that, in both the short- and long-run, U.S. imports and exports are highly sensitive to changes in U.S. and foreign income, while U.S. imports and exports are relatively insensitive to changes in bilateral exchange rate. It is also found that both exports and imports are more responsive to changes in government spending than changes in interest rates in both the short- and long-run.
Theory Policy And Dynamics In International Trade
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Author : Wilfred J. Ethier
language : en
Publisher: Cambridge University Press
Release Date : 1993
Theory Policy And Dynamics In International Trade written by Wilfred J. Ethier and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
This book presents a representative collection of papers on international trade, one of the most dynamic sub-fields in economics. The contributions range over all the major areas of research, including articles on the geographical aspects of international trade by Paul Krugman and Alan Deardorff, on dynamic stochastic economies by Avinash Dixit, and on endogenous growth by Gene Grossman and Elhanan Helpman. In addition to the theoretical contributions, the book also contains work on important policy issues such as auction quotas, discussed by Kala Krishna, and the role of government in economic development, by Anne Krueger. Also included is an assessment by Bill Ethier of the theoretical achievements of a leading authority in international trade theory, Ronald Jones, in whose honour the essays were written.
Economic Growth And Macroeconomic Dynamics
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Author : Steve Dowrick
language : en
Publisher:
Release Date : 2006-06-11
Economic Growth And Macroeconomic Dynamics written by Steve Dowrick and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-06-11 with Business & Economics categories.
The development of the endogenous growth model rekindled interest in growth theory. In contrast to the neo-classical model, long-run endogenous growth emerged as an equilibrium outcome, reflecting the behaviour of optimizing agents in the economy. This book brings together a number of contributions in growth theory and macroeconomic dynamics, reflecting these developments and the ongoing debate over the relative merits of neo-classical and endogenous growth models. It focuses on the emergence of three important aspects: First, it develops growth models that extend the underlying theory in different directions. Second, it addresses one of the concerns of the literature on growth and dynamics: the statistical properties of underlying data and the effort to ensure that growth models are consistent with empirical evidence. Third, it discusses the increasingly international focus of macrodynamics and growth theory, an inevitable consequence of the integration of the world economy.
International Macroeconomic Dynamics
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Author : Stephen J. Turnovsky
language : en
Publisher: MIT Press
Release Date : 1997
International Macroeconomic Dynamics written by Stephen J. Turnovsky and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
International Macroeconomic Dynamics provides extensive applications of important macroeconomic dynamic models to the international economy. For a long time, the study of macroeconomics has focused almost exclusively on a closed economy and downplayed the role of international transactions. Today, however, researchers recognize that one cannot fully understand domestic macroeconomic relationships without considering the global economy within which each country operates. Increasingly, economists are treating international transactions as an integral part of the macroeconomic system, and international macroeconomics has become an area of intensive research activity. International Macroeconomic Dynamics provides extensive applications of important macroeconomic dynamic models to the international economy. It adopts the main contemporary macroeconomic framework, the representative agent model, and develops a series of models of increasing complexity. The author considers both small and large economies and analyzes them in both deterministic and stochastic contexts. The emphasis is very much on the development of the analytical models; a novel feature is the extensive use of continuous-time stochastic methods. While the author applies the models to a range of important policy issues, particularly issues of fiscal policy, the reader is invited to view the analyses as blueprints for other applications.
International Evidenceon The Determinants Of Trade Dynamics
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Author : Mr.Eswar Prasad
language : en
Publisher: International Monetary Fund
Release Date : 1997-12-01
International Evidenceon The Determinants Of Trade Dynamics written by Mr.Eswar Prasad and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-12-01 with Business & Economics categories.
This paper provides some new empirical perspectives on the relationship between international trade and macroeconomic fluctuations in industrial economies. First, a comprehensive set of stylized facts concerning fluctuations in trade variables and their determinants are presented. A measure of the quantitative importance of international trade for the propagation of domestic business cycles is then constructed, focusing on the role of external trade as a catalyst for cyclical recoveries. Finally, structural vector autoregression models are used to characterize the joint dynamics of output, exchange rates, and trade variables in response to different types of macroeconomic shocks.
Dynamics Of International Trade And Economy
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Author : Rajagopal
language : en
Publisher: Nova Publishers
Release Date : 2007
Dynamics Of International Trade And Economy written by Rajagopal and has been published by Nova Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
Discusses a research analysis based on survey of literature and statistical analysis of the data available from secondary sources and argues the strategic partnership model developed by analysing the functional gap-map in reference to the political, economic, legal and trade related factors.