G2TT
来源类型Discussion paper
规范类型论文
来源IDDP10775
DP10775 Diversification through Trade
Francesco Caselli; Miklós Koren; Silvana Tenreyro; Milan Lisicky
发表日期2015-08-23
出版年2015
语种英语
摘要A widely held view is that openness to international trade leads to higher GDP volatility, as trade increases specialization and hence exposure to sector-specific shocks. We revisit the common wisdom and argue that when country-wide shocks are important, openness to international trade can lower GDP volatility by reducing exposure to domestic shocks and allowing countries to diversify the sources of demand and supply across countries. Using a quantitative model of trade, we assess the importance of the two mechanisms (sectoral specialization and cross-country diversification) and provide a new answer to the question of whether and how international trade affects economic volatility.
主题International Macroeconomics and Finance ; International Trade and Regional Economics ; Monetary Economics and Fluctuations ; Macroeconomics and Growth
关键词Diversification Trade Volatility
URLhttps://cepr.org/publications/dp10775
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/539606
推荐引用方式
GB/T 7714
Francesco Caselli,Miklós Koren,Silvana Tenreyro,et al. DP10775 Diversification through Trade. 2015.
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