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Record Nr. |
UNINA9910788341103321 |
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Autore |
Shiells Clinton |
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Titolo |
Dynamic Factor Price Equalization & International Income Convergence / / Clinton Shiells, Joseph Francois |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2008 |
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ISBN |
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1-4623-7394-1 |
1-4527-9246-1 |
1-4518-7125-2 |
9786612842184 |
1-282-84218-8 |
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Descrizione fisica |
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1 online resource (19 p.) |
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Collana |
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Altri autori (Persone) |
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Disciplina |
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Soggetti |
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Investments: General |
Investments: Stocks |
Macroeconomics |
Pension Funds |
Non-bank Financial Institutions |
Financial Instruments |
Institutional Investors |
Labor Economics: General |
Macroeconomics: Consumption |
Saving |
Wealth |
Aggregate Factor Income Distribution |
Investment |
Capital |
Intangible Capital |
Capacity |
Investment & securities |
Labour |
income economics |
Stocks |
Labor |
Consumption |
Income |
Capital accumulation |
Labor economics |
Economics |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Sommario/riassunto |
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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. |
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