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Comparative advantage and the cross-section of business cycles

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Published by Massachusetts Institute of Technology in Cambridge, Mass .
Written in English


Book details:

Edition Notes

StatementAart Kraay, Jaume Ventura
SeriesWorking paper / Dept. of Economics -- 98-09, Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 98-09.
ContributionsVentura, Jaume, Massachusetts Institute of Technology. Dept. of Economics
The Physical Object
Pagination38, [5] p. :
Number of Pages38
ID Numbers
Open LibraryOL24639534M
OCLC/WorldCa40905189

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Business cycles are both less volatile and more synchronized with the world cycle in rich countries than in poor ones. We develop two alternative explanations based on the idea that comparative advantage causes rich countries to specialize in industries that use new technologies operated by skilled workers, while poor countries specialize in industries that use traditional technologies operated by Pages: edbytheworkofDavis(),weconsidera world in which differences in bothfactor endowments a la Heckscher-Ohlin and industry technologiesa la Ricardo combine to determinea country's comparative. Business cycles are both less volatile and more synchronized with the world cycle in rich countries than in poor ones. We develop two alternative explanations based on the idea that comparative advantage causes rich countries to specialize in industries that use new technologies operated by skilled workers, while poor countries specialize in industries that use traditional technologies operated by . Section 2 explores the properties of a cross-section of business cycles in the basic model. Section 3 extends the model by introducing money. Section 4 further extends the model by introducing transport costs. Section 5 examines some implications of the model for cyclical properties of the terms of trade.

Download Citation | Comparative Advantage and the Cross-Section of Business Cycles | Business cycles are both less volatile and more synchronized with the world cycle in rich countries than in. country’s comparative advantage and, therefore, the patterns of specialization and trade. To generate business cycles, we subject this world economy to the sort of productivity fluctuations that have been emphasized by Kydland and Prescott (). In section two, we characterize the cross-section of business cycles and show how. Kraay and Ventura Comparative Advantage & Cross-Section of Business Cycles combine to determine a country’s comparative advantage and hence the patterns of specialization and trade. To generate business cycles, we subject this world economy to the sort of productivity fluctuations that have been emphasized by Kydland and Prescott (). Marketing Mix of 4P‟S for Competitive Advantage 41 | P a g e constitutes the core of company’s style of marketing. All these elements are very significant and depend upon each other; the four elements in the marketing mix are inter related. Fig. 1 Marketing Mix Cycle II.

Comparative advantage and the cross-section of business cycles (English)Cited by: Cross-SectionotBusinessCycles AartKraay,TheWorldBank JaumeVentura,MIT WorkingPaperRevised January RoomE 50MemorialDrive Cambridge,MA ComparativeAdvantage andthe Cross-sectionofBusinessCycles AartKraay JaumeVentura TheWorldBank M.I.T. December Abstract. The Advantage is another of Patrick Lencioni's business books, yet unlike all others (that I've read) this one is not written as a business novel. Instead it is a bit more like a normal business book but then it summarizes some of the core ideas of Lencioni's earlier books/5(). Comparative advantage and the cross-section of business cycles. Get PDF (2 MB) Abstract. Business cycles are less volatile in rich countries than in poor ones. They are also more synchronized with the world cycle. Both explanations proceed from the observation that the law of comparative advantage causes rich and poor countries to Author: Aart Kraay and Jaume Ventura.