Lewis, Logan T.; Monarch, Ryan; Sposi, Michael; Zhang, Jing - 2020
. Using a Ricardian trade model incorporating endogenous structural change, we quantify how this substantial shift in … consumption has affected trade. Without structural change, we find that the world trade to GDP ratio would be 15 percentage points … higher by 2015, about half the boost delivered from declining trade costs. In addition, this structural change has lowered …