| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5563 |
| DP5563 Trade and Growth with Heterogenous Firms | |
| Richard Baldwin; Frédéric Robert-Nicoud | |
| 发表日期 | 2006-03-22 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper addresses the consumption-real exchange rate anomaly. International real business cycle models based on complete financial markets predict a unitary correlation between the real exchange rate and the ratio of home to foreign consumption when subjected to supply side shocks. In the data, this correlation is usually small and often negative. This paper shows that this anomaly can be addressed by models that have an incomplete financial market structure and a non-traded as well as traded goods production sector. |
| 主题 | International Macroeconomics |
| 关键词 | Consumption-real exchange rate anomaly Incomplete financial markets Non-traded goods |
| URL | https://cepr.org/publications/dp5563 |
| 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/534420 |
| 推荐引用方式 GB/T 7714 | Richard Baldwin,Frédéric Robert-Nicoud. DP5563 Trade and Growth with Heterogenous Firms. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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