Comparative Advantage, Exchange Rates, and G-7 Sectoral Trade Balances

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Stephen S. Golub;
  • Subject: Balance of trade;Wages;labor cost, labor costs, trade patterns, net exports, trade flows

This paper uses a Ricardian framework to clarify the role of microeconomic and macroeconomic factors governing the time series and cross-section behavior of sectoral trade balances. Unit labor costs and trade balances are calculated for several sectors for the seven maj... View more
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