文章基本信息

标题：Diversification through Trade
本地全文：下载
作者：Francesco Caselli ; Miklós Koren ; Milan Lisicky 等
期刊名称：CEP Discussion Paper
出版年度：2015
卷号：2015
语种：English
出版社：Centre for Economic Performance
摘要：A widely held view is that openness to international trade leads to higher GDP volatility, as trade increases specialization and hence exposure to sector-specific shocks. We revisit the common wisdom and argue that when country-wide shocks are important, openness to international trade can lower GDP volatility by reducing exposure to domestic shocks and allowing countries to diversify the sources of demand and supply across countries. Using a quantitative model of trade, we assess the importance of the two mechanisms (sectoral specialization and cross-country diversification) and provide a new answer to the question of whether and how international trade affects economic volatility.
关键词：International trade;diversification;GDP