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| Tekijä: | Kraay, A. Ventura, J. |
| Otsikko: | Comparative advantage and the cross-section of business cycles |
| Lehti: | Journal of the European Economic Association
2007 : DEC, VOL. 5:6, p. 1300-1333 |
| Asiasana: | business cycles comparative advantage cross-sectional models |
| Kieli: | eng |
| Tiivistelmä: | Business cycles are both less volatile and more synchronized with the world cycle in rich countries than in poor ones. Two alternative explanations are developed based on the idea that comparative advantage causes rich countries to specialize in industries that use new technologies operated by skilled workers whereas poor countries specialize in industries that use traditional technologies operated by unskilled workers. |
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