The Harrod-Balassa-Samuelson effect and endogenous extensive margins

Masashige Hamano*

*この研究の対応する著者

研究成果: Article査読

1 被引用数 (Scopus)

抄録

In the last few decades, the world economy has witnessed the expansion of trade, especially in the number of exchanged varieties, the so-called "extensive margins". In a theoretical model where extensive margins in both tradable and non-tradable sectors are endogenously determined, it is shown that the Harrod-Balassa-Samuelson (HBS) effect is amplified. Following an HBS productivity shock, when countries expand their extensive margins rather than the scale of production, wages appreciate further. Therefore, the expansion in extensive margins leads to a stronger appreciation in the price of non-traded goods. Furthermore, when traded and non-traded goods are complements, the number of firms in the non-traded sector increases despite the appreciation of non-traded goods prices.

本文言語English
ページ(範囲)98-113
ページ数16
ジャーナルJournal of The Japanese and International Economies
31
DOI
出版ステータスPublished - 2014 3
外部発表はい

ASJC Scopus subject areas

  • 財務
  • 経済学、計量経済学
  • 政治学と国際関係論

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