| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP248 |
| DP248 North-South Growth and the Terms of Trade | |
| David Vines; Hassan Molana | |
| 发表日期 | 1988-06-01 |
| 出版年 | 1988 |
| 语种 | 英语 |
| 摘要 | This paper examines equilibrium growth and stability in the world economy using a North-South model in which there is assumed to be surplus labor in both North and South at an exogenously determined level of real wages. The model allows for substitution in consumption between primary commodities and industrial goods in the North. It treats the cases of both surplus and scarce land in the South. In the case of an exogenous shock to the model, the North-South terms of trade may overshoot its equilibrium value and/or converge to this value along a cyclical path: there is no guarantee that the adjustment path is stable. |
| 主题 | International Trade and Regional Economics |
| 关键词 | World economy Equilibrium growth Exchange rates Kaldor |
| URL | https://cepr.org/publications/dp248 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529405 |
| 推荐引用方式 GB/T 7714 | David Vines,Hassan Molana. DP248 North-South Growth and the Terms of Trade. 1988. |
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