全球智库信息集成服务系统(G2TT): DP8838 On the connection between intra-temporal and intertemporal trade

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP8838
	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
URL	https://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.