FRB: How Pervasive is the Product Cycle? The Empirical Dynamics of American and Japanese Trade Flows

International Finance Discussion Papers

How Pervasive is the Product Cycle? The Empirical Dynamics of American and Japanese Trade Flows
Joseph E. Gagnon and Andrew K. Rose
1991-410 (September 1991)

Abstract: This paper looks for dynamic patterns in international trade flows using multilateral American and Japanese data disaggregated to the four-digit SITC level. Little evidence is found of product-cycle dynamics between 1962 and 1988; rather, goods that begin the sample in surplus (deficit) tend to remain in surplus (deficit) throughout the sample.

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