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Trade Models, Trade Elasticities, and the Gains from Trade [PDF]
We argue that the welfare gains from trade in new models with micro-level margins exceed those in frameworks without these margins. Theoretically, we show that for fixed trade elasticity, different models predict identical trade flows, but different patterns of micro-level price variation.
Ina Simonovska, Michael E. Waugh
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Different Trade Models, Different Trade Elasticities? [PDF]
, 2012 How has the development of new trade models changed our understanding of the welfare gains from trade? Answering this question depends solely on estimates of the trade elasticity obtained using techniques applicable across different models. In this paper we build on the methods of Simonovska and Waugh (2011) and we develop a common estimator for the ...
Michael Waugh, Ina Simonovska
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Hong Kong's Trade Patterns and Trade Elasticities [PDF]
, 2006 A salient feature of Hong Kong's external trade is its intermediation role. As the entrepot for Mainland China, Hong Kong helps channel raw materials and semi-manufacturing products from the rest of the world to the Mainland for further processing and then helps re-export the processed goods and final products to the rest of the world.
Li-gang Liu, Kelvin Fan, Jimmy Shek
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Heterogeneous trade elasticity and managerial skills
Journal of International EconomicsThis paper investigates the role of firms' managerial skills in the heterogeneous reaction of exporters to common exogenous changes in their international competitiveness (here captured by changes in the real exchange rate). Relying on a simple theoretical framework, we show that firms with better managerial skills have higher profits, market power and
Bas, Maria +3 more
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Trade creation, trade diversion and elastic labor supply
Mathematical Social Sciences, 1988Abstract Welfare effects of a customs union are examined in a two-sector model of a small open economy with elastic labor supply. It is shown that with positive labor supply elasticity and noncomplementarity of leisure and capital intensive good, the conventional results in customs union theory will (will not) hold if the production effect of ...
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2002
That Asia’s share of world trade has expanded from insignificance to dominance is clear from figure 4.1. What is less clear is what role income and relative prices may have played in this remarkable expansion. Specifically, are income and price elasticities equally important across Asian countries, across exports and imports?
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That Asia’s share of world trade has expanded from insignificance to dominance is clear from figure 4.1. What is less clear is what role income and relative prices may have played in this remarkable expansion. Specifically, are income and price elasticities equally important across Asian countries, across exports and imports?
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TradeModels and Trade Elasticities [PDF]
, 2014 This paper shows that new trade models with different micro-level margins--estimated to fit the same moments in the data--imply lower trade elasticities and, hence, larger welfare gains from trade relative to models without these margins. The key feature of the estimation approach is to focus on common moments where new micro-level margins, such as an ...
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Innovation and the trade elasticity
Journal of Monetary Economics, 2014Abstract The reaction of trade volumes to tariffs is far larger than what current models predict. One reason for this is that they abstract from endogenous productivity choices (“innovation”), which amplify this reaction. To show this, I develop a model of international trade with innovation, and calibrate it to Canada and United States before the ...
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Innovation, export performance and trade elasticities across different sectors
Structural Change and Economic Dynamics, 2021Ana Bottega, João P Romero
exaly
Service Trade Liberalization, Trade Elasticities and Welfare
Applied Economics, 2023openaire +1 more source