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The Elasticity of Trade: Estimates and Evidence

Simonovska, Ina; Waugh, Michael E. - CESifo - 2011

Quantitative results from a large class of international trade models depend critically on the elasticity of trade with respect to trade frictions. We develop a simulated method of moments estimator to estimate this elasticity from disaggregate price and trade-flow data using the Ricardian...

Persistent link: https://www.econbiz.de/10008853860

International Trade without CES: Estimating Translog Gravity

Novy, Dennis - CESifo - 2010

This paper derives a micro-founded gravity equation in general equilibrium based on a translog demand system that … allows for endogenous markups and substitution patterns across goods. In contrast to standard CES-based gravity equations …. I test the translog gravity equation and find strong empirical support in its favor. …

Persistent link: https://www.econbiz.de/10008596576

Lumpy Countries, Urbanization, and Trade

Brakman, Steven; Marrewijk, Charles van - CESifo - 2011

Lumpiness of production factors within a country might overturn the predictions for the structure of trade by the factor-abundance (HO) model. Trade patterns, as predicted by this model, can both be magnified or reversed by uneven concentration of production factors within a country. Cities are...

Persistent link: https://www.econbiz.de/10009386353

The Determinants of Trade Costs: A Random Coefficients Approach

Egger, Peter; Prusa, Jan - CESifo - 2014

This paper assesses whether the sensitivity of bilateral trade volumes to various trade cost factors is constant or varies across countries. It utilizes a random coeffcients model and analyses a cross-sectional sample of bilateral trade data for 96 countries in 2005. We expect the elasticity of...

Persistent link: https://www.econbiz.de/10010877651

Transatlantic Free Trade: The View Point of Germany

Felbermayr, Gabriel J.; Aichele, Rahel - CESifo - 2014

The proposed Transatlantic Trade and Investment Partnership (TTIP) between the European Union and the United States of America would be the largest preferential trade agreement in the world. Encompassing almost half of world GDP, it will have strong economic effects on Germany. In this paper, we...

Persistent link: https://www.econbiz.de/10011120476

Trade, Wages, and Productivity

Behrens, Kristian; Mion, Giordano; Murata, Yasusada; … - CESifo - 2012

We develop a new general equilibrium monopolistic competition model with variable demand elasticity, heterogeneous firms, and multiple asymmetric regions. Wages, productivity, consumption diversity, and markups across firms and markets are all endogenously determined and respond to trade...

Persistent link: https://www.econbiz.de/10010595380

Trade Intensity and Output Synchronisation: On the Endogeneity Properties of EMU

Caporale, Guglielmo Maria; Santis, Roberta De; Girardi, … - CESifo - 2013

Using annual bilateral data over the period 1988-2011 for a panel of 24 industrialised and emerging economies, we analyse in a time-varying framework the determinants of output synchronisation in EMU (European Monetary Union) distinguishing between core and peripheral member states. The results...

Persistent link: https://www.econbiz.de/10010634084

Agricultural Exports, Tariffs and Growth

Azarnert, Leonid V. - CESifo - 2014

This article presents a Ricardian model of trade with learning-by-doing to study the effect of barriers to trade in products with low growth potential on the long-run economic growth. The model shows that, when elasticity of demand for the product with a lower learning potential is lower than...

Persistent link: https://www.econbiz.de/10010735187

Trade, Education, and the Shrinking Middle Class

Blanchard, Emily; Willmann, Gerald - CESifo - 2013

We develop a new model of trade in which educational institutions drive comparative advantage and determine the distribution of human capital within and across countries. Our framework exploits a multiplicity of sectors and the continuous support of human capital choices to demonstrate that...

Persistent link: https://www.econbiz.de/10010627553

Exchange Rate Pass-Through, Domestic Competition, and Inflation: Evidence from the 2005/08 Revaluation of the Renminbi

Auer, Raphael A. - CESifo - 2012

This paper quantifies the effect of the government-controlled appreciation of the Chinese renminbi (RMB) vis-à-vis the USD from 2005 to 2008 on the prices charged by US producers. As the RMB during that time was pegged to a basket of currencies, the empirical strategy must account for the fact...

Persistent link: https://www.econbiz.de/10010535633

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