G2TT
来源类型Discussion paper
规范类型论文
来源IDDP8838
DP8838 On the connection between intra-temporal and intertemporal trade
Shang-Jin Wei; Kang Shi; Jiandong Ju
发表日期2012-02-01
出版年2012
语种英语
摘要Sticky (or slow-adjusting) current accounts are observed for many countries. This paper explores the role of domestic factor market flexibility in understanding the phenomenon. To do so, we consider multiple tradable sectors with different factor intensities and allow substitution between intertemporal trade (current account adjustment) and intra-temporal trade (goods trade) in a dynamic general equilibrium model. An economy?s response to a shock generally involves a combination of a change in the composition of goods trade and a change in the current account. Flexible factor markets reduce the need for the current account to adjust. On the other hand, the more rigid the factor markets, the larger the size of current account adjustment relative to the volume of goods trade, and the slower the speed of adjustment of the current account towards its long-run equilibrium. We present empirical evidence in support of the theory.
主题International Trade and Regional Economics
关键词Current account Intertemporal trade Labor market rigidity Trade balance
URLhttps://cepr.org/publications/dp8838
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/537674
推荐引用方式
GB/T 7714
Shang-Jin Wei,Kang Shi,Jiandong Ju. DP8838 On the connection between intra-temporal and intertemporal trade. 2012.
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