全球智库信息集成服务系统(G2TT): DP4858 Firm-Specific Capital, Nominal Rigidities and the Business Cycle

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP4858
	DP4858 Firm-Specific Capital, Nominal Rigidities and the Business Cycle
	Martin Eichenbaum; Lawrence J. Christiano; Jesper Linde; David E Altig
发表日期	2005-01-23
出版年	2005
语种	英语
摘要	Classic trade questions are reconsidered by generalizing a factor-proportions model to multiple countries, multi-stage production, and country-specific trade costs. We derive patterns of production specialization and trade for a matrix of countries that differ in relative endowments (columns) and trade costs (rows). We demonstrate how the ability to fragment production and/or a proportional change in all countries? trade costs alters these patterns. Production specialization and the volume of trade are higher with fragmentation for most countries but interestingly, for a large block of countries, these variables fall following fragmentation. Countries with moderate trade costs engage in market-oriented assembly, while those with lower trade costs engage in export-platform production. These two cases correspond to the concepts of horizontal and vertical affiliate production in the literature on multinational enterprises. Increases in specialization and the volume of trade accelerate as trade costs go to zero with and without fragmentation.
主题	International Trade and Regional Economics
关键词	Multi-country Fragmentation Trade costs Multinationals
URL	https://cepr.org/publications/dp4858
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/533765
推荐引用方式 GB/T 7714	Martin Eichenbaum,Lawrence J. Christiano,Jesper Linde,et al. DP4858 Firm-Specific Capital, Nominal Rigidities and the Business Cycle. 2005.