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Bank of Canada RSS Feedsen2024-03-28T16:44:41+00:00International Borrowing, Specialization and Unemployment in a Small, Open Economy
https://www.bankofcanada.ca/1998/02/working-paper-1998-2/
Empirical evidence suggests that the unemployment rate and the export/GNP ratio are positively correlated with external debt across developing countries. This paper develops a dynamic model that provides an explanation for the aforementioned relationships. The central idea of our paper is that international borrowing affects unemployment and specialization patterns by unevenly changing the risk-sharing structure—across […]1998-02-05T08:13:31+00:00enInternational Borrowing, Specialization and Unemployment in a Small, Open Economy1998-02-05International topicsWorking Paper 1998-2 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-2.pdfInternational Borrowing, Specialization and Unemployment in a Small, Open EconomyPatrick OsakweShouyong ShiFebruary 1998FF3JJ6