Time-intensive R&D and unbalanced trade
This paper highlights a novel mechanism that generates global imbalances. It develops a general equilibrium trade model with one of two countries having a comparative advantage in a sector whose production is characterized by (i) rapid, anticipated demand growth and (ii) large up-front R&D costs...
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| Format: | UnknownFormat |
| Sprache: | eng |
| Veröffentlicht: |
Zurich
Swiss National Bank
2015
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| Schriftenreihe: | SNB working papers
2015,11 |
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