Entry, Trade Costs and International Business Cycles
Entry, Trade Costs and International Business Cycles
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进入、贸易成本和国际经济周期
DOI：
10.1016/j.jinteco.2014.08.008
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发表时间：
2014
影响因子：
4.1
通讯作者：
Roberto N. Fattal
中科院分区：
文献类型：
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作者：
Jose Ignacio Lopez;Roberto N. Fattal
企业进入成本和固定出口成本与理解商业周期的国际传递是否相关？我们重新审视这个问题，使用一个模型，包括进入，选择出口活动，物质资本积累和内生劳动力供给。我们确定，一旦外生生产率的随机过程被校准，以考虑由企业数量产生的TFP的内生动态，并且进入的时间序列波动被校准到数据，我们的模型产生最小的偏离Backus et al.（1992）基准。更丰富的模型分享了前一个模型在总量波动方面的所有成功，以及在复制国际共同运动模式和国际相对价格波动方面的失败。
Are firm entry and fixed exporting costs relevant for understanding the international transmission of business cycles? We revisit this question using a model that includes entry, selection to exporting activity, physical capital accumulation and endogenous labor supply. We determine that once the stochastic process for exogenous productivity is calibrated to consider the endogenous dynamics in TFP created by the number of firms and the time series volatility of entry is calibrated to the data, our model yields minimal departures from the Backus et al. (1992) benchmark. The richer model shares all of the successes of the previous model in terms of the volatilities of aggregate quantities, as well as its failures, in terms of replicating patterns of international co-movement and the volatility of international relative prices.