Trade and Financial Integration, Extensive Margin, and Income Divergence
We revisit the classical question on economic integration and income convergence in a two-sector OLG model with financial frictions and sectoral heterogeneity in minimum investment requirements (MIR, hereafter). The extensive margin of investment is a critical channel through which aggregate income...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2014
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| Online Access: | https://ink.library.smu.edu.sg/soe_research/1590 https://ink.library.smu.edu.sg/context/soe_research/article/2589/viewcontent/05_2014.pdf |
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| Institution: | Singapore Management University |
| Language: | English |