MARC Record from Library of Congress

LEADER: 02324cam a22003497a 4500
001 2005616748
003 DLC
005 20050225120114.0
007 cr |||||||||||
008 050225s2005 nyu sb f000 0 eng
010 $a 2005616748
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aCorsetti, Giancarlo.
245 10 $aProductivity spillovers, terms of trade, and the "home market effect";$h[electronic resource] /$cGiancarlo Corsetti, Philippe Martin, Paolo Pesenti.
260 $a[New York, N.Y.] :$bFederal Reserve Bank of New York,$c[2005]
490 1 $aStaff reports ;$vno. 201
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 2/25/2005.
504 $aIncludes bibliographical references.
520 3 $a"This paper analyzes the welfare implications of international spillovers related to productivity gains, changes in market size, or government spending. We introduce trade costs and endogenous varieties in a two-country general-equilibrium model with monopolistic competition, drawing a distinction between productivity gains from manufacturing efficiency and those related to firms' lower cost of entry or product differentiation. Our model suggests that countries with lower manufacturing costs have higher GDP but supply a smaller number of goods at a lower international price. Countries with lower entry and differentiation costs also have higher GDP, but supply a larger array of goods at improved terms of trade. The sign of the international welfare spillovers depends not only on terms of trade, but also on consumers' taste for variety. Higher domestic demand has macroeconomic implications that are similar to those of a reduction in firms' entry costs"--Federal Reserve Bank of New York web site.
650 0 $aInternational trade.
650 0 $aIndustrial productivity.
650 0 $aTerms of trade.
650 0 $aProduct differentiation.
653 $aTrade;$aproductivity;$aterms of trade;$ataste for variety
700 1 $aMartin, Philippe J.
700 1 $aPesenti, Paolo A.
710 2 $aFederal Reserve Bank of New York.
830 0 $aStaff reports (Federal Reserve Bank of New York : Online) ;$vno. 201.
856 40 $uhttp://www.ny.frb.org/research/staff_reports/sr201.html