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| Author: | Arkolakis, C. Ramanarayanan, A. |
| Title: | Vertical specialization and international business cycle synchronization |
| Journal: | Scandinavian Journal of Economics
2009 : VOL. 111:4, p. 655-680 |
| Index terms: | business cycles intermediate goods specialization total factor productivity |
| Language: | eng |
| Abstract: | The impact of vertical specialization (trade in goods across multiple stages of production) on the relationship between trade and business cycle synchronization across countries. An international business cycle is developed, in which the degree of vertical specialization varies with trade barriers. With perfect competition, it is analytically shown that fluctuations in measured total factor productivity are not linked across countries through trade. |
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