| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4534 |
| DP4534 Similarities and Convergence in G7 Cycles | |
| Fabio Canova; Matteo Ciccarelli; Eva Ortega | |
| 发表日期 | 2004-09-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | 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 US and international business cycles. |
| 主题 | International Macroeconomics ; International Trade and Regional Economics |
| 关键词 | Entry Harrod-balassa-samuelson effect Heterogenous producers Endogenous non-tradeness International business cycles Persistence Real exchange rate dynamics |
| URL | https://cepr.org/publications/dp4534 |
| 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/533504 |
| 推荐引用方式 GB/T 7714 | Fabio Canova,Matteo Ciccarelli,Eva Ortega. DP4534 Similarities and Convergence in G7 Cycles. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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