I show that accounting for cross-industry variation in trade elasticities greatly magnifies the estimated gains from trade. The main idea is as simple as it is general: while imports in the average industry do not matter too much, imports in some industries are critical to the functioning of the economy, so that a complete shutdown of international trade is very costly overall
A widely held view is that openness to international trade leads to higher GDP volatility, as trade ...
Under plausible assumptions about preferences and technology, the model in this paper suggests that ...
In 2011-2015 global trade volumes have systematically surprised on the downside, to a much larger ex...
I show that accounting for cross-industry variation in trade elasticities greatly magnifies the esti...
I show that accounting for cross-industry variation in trade elasticities greatly magni\u85es the es...
We present a dynamic comparative advantage model in which moderate reductions in trade costs can gen...
It is common to observe that demand elasticities in trade equations for imports are implausibly larg...
Recent quantitative trade models treat import tariffs as pure cost shifters so that their effects ar...
Not surprisingly, big countries trade more than small countries. In this paper we use data on shipme...
Quantitative results from a large class of structural gravity models of international trade depend c...
What share of firms export? How large are exporters? How many products do they export? Over the last...
Multi-sector variants of gravity models typically predict much larger gains from trade (losses from...
This paper revisits the issue of whether countries gain more from trading with countries that are si...
International trade literature tends to focus heavily on the production side of general equilibrium,...
International trade literature tends to focus heavily on the production side of general equilibrium,...
A widely held view is that openness to international trade leads to higher GDP volatility, as trade ...
Under plausible assumptions about preferences and technology, the model in this paper suggests that ...
In 2011-2015 global trade volumes have systematically surprised on the downside, to a much larger ex...
I show that accounting for cross-industry variation in trade elasticities greatly magnifies the esti...
I show that accounting for cross-industry variation in trade elasticities greatly magni\u85es the es...
We present a dynamic comparative advantage model in which moderate reductions in trade costs can gen...
It is common to observe that demand elasticities in trade equations for imports are implausibly larg...
Recent quantitative trade models treat import tariffs as pure cost shifters so that their effects ar...
Not surprisingly, big countries trade more than small countries. In this paper we use data on shipme...
Quantitative results from a large class of structural gravity models of international trade depend c...
What share of firms export? How large are exporters? How many products do they export? Over the last...
Multi-sector variants of gravity models typically predict much larger gains from trade (losses from...
This paper revisits the issue of whether countries gain more from trading with countries that are si...
International trade literature tends to focus heavily on the production side of general equilibrium,...
International trade literature tends to focus heavily on the production side of general equilibrium,...
A widely held view is that openness to international trade leads to higher GDP volatility, as trade ...
Under plausible assumptions about preferences and technology, the model in this paper suggests that ...
In 2011-2015 global trade volumes have systematically surprised on the downside, to a much larger ex...
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