| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6303 |
| DP6303 Oil Shocks and External Balances | |
| Lutz Kilian; Alessandro Rebucci; Nikola Spatafora | |
| 发表日期 | 2007-05-18 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper studies the link between volatility, labour market flexibility, and international trade. International differences in labour market regulations affect how firms can adjust to idiosyncratic shocks. These institutional differences interact with sector specific differences in volatility (the variance of the firm-specific shocks in a sector) to generate a new source of comparative advantage. Other things equal, countries with more flexible labour markets specialize in sectors with higher volatility. Empirical evidence for a large sample of countries strongly supports this theory: the exports of countries with more flexible labor markets are biased towards high-volatility sectors. We show how differences in labour market institutions can be parsimoniously integrated into the workhorse model of Ricardian comparative advantage of Dornbusch, Fischer, and Samuelson (1977). We also show how our model can be extended to multiple factors of production. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Comparative advantage Labour market flexibility |
| URL | https://cepr.org/publications/dp6303 |
| 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/535139 |
| 推荐引用方式 GB/T 7714 | Lutz Kilian,Alessandro Rebucci,Nikola Spatafora. DP6303 Oil Shocks and External Balances. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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