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Persistent link: https://www.econbiz.de/10005509848
We simulate numerically a trade model with labor mobility costs added, modeled in such a way as to generate gross flows in excess of net flows. Adjustment to a trade shock can be slow with plausible parameter values. In our base case, the economy moves 95% of the distance to the new steady state...
Persistent link: https://www.econbiz.de/10005727168
Persistent link: https://www.econbiz.de/10014393270