Dynamic Factor Price Equalization and International Income Convergence /

The paper develops a tractable way to incorporate the micro structure of dual models of international trade into a standard class of dynamic open-economy macro models. In the process, it develops the concept of a dynamic factor price equalization set and an integrated intertemporal equilibrium. A nu...

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Bibliografiske detaljer
Hovedforfatter: Shiells, Clinton
Andre forfattere: Francois, Joseph
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 2008.
Serier:IMF Working Papers; Working Paper ; No. 2008/267
Online adgang:Full text available on IMF
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245 1 0 |a Dynamic Factor Price Equalization and International Income Convergence /  |c Clinton Shiells, Joseph Francois. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2008. 
300 |a 1 online resource (17 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a The paper develops a tractable way to incorporate the micro structure of dual models of international trade into a standard class of dynamic open-economy macro models. In the process, it develops the concept of a dynamic factor price equalization set and an integrated intertemporal equilibrium. A number of results are obtained concerning trade, growth, and income convergence. Countries with higher capital/labor ratios may stay wealthier over time, both in the transition and in the new steady state. Real shocks in one country will be transmitted to the other country through the factor markets and traded goods prices. 
538 |a Mode of access: Internet 
700 1 |a Francois, Joseph. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2008/267 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2008/267/001.2008.issue-267-en.xml  |z IMF e-Library