منابع مشابه
Offshoring in a Ricardian World †
Technological change has led to a dramatic decline in the cost of communication and in the cost of coordinating activities performed in different locations. This has allowed firms in rich countries to fragment their production process and offshore an increasing share of the value chain to low-wage countries. 2 Richard Baldwin (2006) refers to this phenomenon as the “second unbundling.” In his w...
متن کاملTeams of Rivals: Endogenous Markups in a Ricardian World
We show that an ostensibly disparate set of stylized facts regarding firm pricing behavior can arise in a Ricardian model with Bertrand competition. Generalizing the Bernard, Eaton, Jenson, and Kortum (2003) model allows firms’ markups over marginal cost to fall under trade liberalization, but increase with FDI, matching empirical studies in international trade. We are able to mesh this dichoto...
متن کاملthird world intellectuals in v. s. naipaul’s fiction: the mimic men, a bend in the river, magic seeds
this thesis attempts to study the representations of the third-world intellectuals in three fictional works by the british-educated trinidadian nobel-winner v. s. naipaul: the mimic men, a bend in the river, and magic seeds. the first one recounts the story of ralph singh’s sense of alienation, his experiences as a colonial politician, and his struggle to give order to his disorderly world thro...
15 صفحه اولThe Taylor Principle and Global Determinacy in a Non-Ricardian World
The Taylor principle is quite usually considered as a central condition for price determinacy. Recently, however, this has been questioned on several grounds, notably because (i) this condition is a condition for local determinacy, not global determinacy (ii) it has been derived in “Ricardian” economies, and it appears that going to a nonRicardian framework makes a very big difference for the d...
متن کاملInterest rate rules, price determinacy and the value of money in a non-Ricardian world
This article studies under which conditions interest rate rules “à la Taylor (1993)” lead to price determinacy. We scrutinize notably two famous results, which are standard in the traditional “Ricardian” model with a single dynasty of consumers: (1) a pure interest rate peg leads to nominal price indeterminacy; (2) a strong reaction (usually more than one for one) of nominal interest rates to i...
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ژورنال
عنوان ژورنال: American Economic Journal: Macroeconomics
سال: 2010
ISSN: 1945-7707,1945-7715
DOI: 10.1257/mac.2.2.227