Sato, Misato; Dechezlepretre, Antoine - London School of Economics (LSE) - 2015
This paper measures the response of bilateral trade flows to differences in industrial energy prices across countries …. Using a panel for the period 1996-2011 including 42 countries, 62 sectors and covering 60% of global merchandise trade, we … estimate the short-run effects of sector-level energy price asymmetry on trade. We find that changes in relative energy prices …