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| Tekijä: | Golub, S. |
| Otsikko: | Comparative advantage, exchange rates, and sectoral trade balances of major industrial countries |
| Lehti: | Staff Papers
1994 : JUN, VOL. 41:2, p. 286-313 |
| Asiasana: | EXCHANGE RATES COMPARATIVE ADVANTAGE TRADE |
| Kieli: | eng |
| Tiivistelmä: | This paper uses a Ricardian framework to clarify the role of microeconomic and macroeconomic factors governing the time-series and cross-sectional behavior of sectoral trade balances. Unit labor costs and trade balances are calculated for several sectors for the seven major industrial countries. The time-series and cross-sectional variation in sectoral unit labor costs is decomposed into relative productivity, wage differentials, and exchange rate variations. |
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