G2TT
来源类型Discussion paper
规范类型论文
来源IDDP3178
DP3178 Why Are Rates of Inflation So Low After large Devaluations
Martin Eichenbaum; Sérgio Rebelo; Ariel Tomas Burstein
发表日期2002-01-20
出版年2002
语种英语
摘要This research argues that international trade has played a significant role in the timing of demographic transitions across countries and has thereby been a major determinant of the distribution of world population and a prime cause of sustained differences in population growth and income levels across countries. In industrial economies international trade enhanced the specialization in the production of skilled-intensive goods and stimulated technological progress. The rise in the demand for skilled labour induced an investment in the quality of the population, expediting the demographic transition, stimulating technological progress and further enhancing the comparative advantage of these industrial economies in the production of skilled intensive goods. In non-industrial economies, in contrast, the specialization in the production of unskilled-intensive goods that was brought about by international trade reduced the demand for skilled labour and provided limited incentives to invest in population quality. The demographic transition was therefore delayed, increasing further the abundance of unskilled labour in these economies and enhancing their comparative disadvantage in the production of skilled intensive goods. International trade has therefore widened the gap between the technological level as well as the skill abundance of industrial and non-industrial economies, enhancing the initial patterns of comparative advantage and generating sustained differences in income per capita across countries.
主题International Macroeconomics ; International Trade and Regional Economics
关键词International trade Demographic transition Industrial revolution Growth Human capital
URLhttps://cepr.org/publications/dp3178
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/532201
推荐引用方式
GB/T 7714
Martin Eichenbaum,Sérgio Rebelo,Ariel Tomas Burstein. DP3178 Why Are Rates of Inflation So Low After large Devaluations. 2002.
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