North-South Growth and the Terms of Trade.
This paper examines equilibrium growth and stability in the world economy using a North-South model in which there is assumed to be surplus labor in both North and South at an exogenously determined level of real wages. The model allows for substitution in consumption between primary commodities and...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
CEPR
1988
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