An "Austrian" Model of International Trade and Interest Rate Equalization
Bibliographic Data
| ID | 10181593 |
|---|---|
| Authors | Ronald Findlay (corresponding author) |
| Year | 1978 |
| Volume | 86 |
| Issue | 6 |
| Pages | 989-1007 |
| Publication date | 1978-12-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260725 |
| OpenAlex | W1987892491 |
| Language | EN |
| Citations received | 10 |
| References cited | 8 |
This paper constructs a model of trade in which an intermediate good is produced by an "Austrian" point-input-point-output process of variable duration while the finished good is produced instantaneously by labor alone. The rate of time preference is a function of the level of stationary consumption and the two countries differ in the rate at which they discount the future. It is shown that the less "impatient" country will export the time-intensive intermediate good and import the finished good, with both countries incompletely specialized and the rate of interest and real wage equalized
Consumption (sociology · Duration (music · Econometrics · Economics · Equalization (audio · Interest rate · Labour economics · Microeconomics · Monetary economics · Point (geometry · Preference · Production (economics · Statistics · Time preference · Variable (mathematics · Wage · Economic Growth and Productivity · Economic theories and models · Economic Theory and Policy · Mathematics
Vertical Specialization in a Ricardian Model with a Continuum of Stages of Production
The nature and growth of vertical specialization in world trade
The Rate of Time Preference and Dynamic Economic Analysis
International Trade and Human Capital
Can Vertical Specialization Explain the Growth of World Trade
The Terms of Trade and the Current Account
Can Global Value Chains Embedment Reduce Carbon Emissions Embodied in Exports?—Empirical Test Based on the Manufacturing Industries
Global value chains, innovation and performance
On a forest as a commodity and on commodification in the discipline of forestry
Trade in Intermediate Goods in a Model with Monopolistic Competition
| Citations per year | 0.23 |
|---|---|
| Citation span | 1983 - 2022 (40) |
| Highly cited | No |