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Gravity Redux: Measuring International Trade Costs with Panel Data

Novy, Dennis - Centre for Economic Performance, LSE - 2012

Barriers to international trade are known to be large but due to data limitations it is hard to measure them directly for a large number of countries over many years. To address this problem I derive a micro-founded measure of bilateral trade costs that indirectly infers trade frictions from...

Persistent link: https://www.econbiz.de/10009416223

International Trade Without CES: Estimating Translog Gravity

Novy, Dennis - Centre for Economic Performance, LSE - 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/10009643556

International Trade Integration: A Disaggregated Approach

Chen, Natalie; Novy, Dennis - Centre for Economic Performance, LSE - 2009

This paper investigates the sources and size of trade barriers at the industry level. We derive a micro-founded measure of industry-specific bilateral trade integration that has an in-built control for time-varying multilateral resistance. This trade integration measure is consistent with a...

Persistent link: https://www.econbiz.de/10005796096

On the Measurement of Trade Costs: Direct vs. Indirect Approaches to Quantifying Standards and Technical Regulations

Chen, Natalie; Novy, Dennis - Centre for Economic Performance, LSE - 2012

used as regressors in a gravity equation of trade. Instead, the indirect approach infers the extent of trade impediments …

Persistent link: https://www.econbiz.de/10010570488

Is the International Border Effect Larger than the Domestic Border Effect? Evidence from U.S. Trade

Coughlin, Cletus C.; Novy, Dennis - Centre for Economic Performance, LSE - 2012

Many studies have found that international borders represent large barriers to trade. But how do international borders compare to domestic border barriers? We investigate international and domestic border barriers in a unified framework. We consider a data set of exports from individual U.S....

Persistent link: https://www.econbiz.de/10010569799

Is Poland the Next Spain?

Caselli, Francesco; Tenreyro, Silvana - Centre for Economic Performance, LSE - 2005

We revisit Western Europe's record with labor-productivity convergence, and tentatively extrapolate its implications for the future path of Eastern Europe. The poorer Western European countries caught up with the richer ones through both higher rates of physical capital accumulation and greater...

Persistent link: https://www.econbiz.de/10005670485

Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments

Baker, Scott R.; Bloom, Nicholas - Centre for Economic Performance, LSE - 2013

A growing body of evidence suggests that uncertainty is counter cyclical, rising sharply in recessions and falling in booms. But what is the causal relationship between uncertainty and growth? To identify this we construct cross country panel data on stock market levels and volatility as proxies...

Persistent link: https://www.econbiz.de/10010697306

Per Capita Income Demand for Variety, and International Trade: Linder Reconsidered

Ramezzana, P - Centre for Economic Performance, LSE - 2000

We analyse a monopolistically competitive model of international trade where goods must be consumed in indivisible amounts. The number of varieties that enter a consumer's optimal consumption bundle is increasing in the consumer's per capita income. We first show that, for a given level of GDP,...

Persistent link: https://www.econbiz.de/10005016828

A Question of Degree: The Effects of Degree Class on Labor Market Outcomes

Feng, Andy; Graetz, Georg - Centre for Economic Performance, LSE - 2013

How does measured performance at university affect labor market outcomes? We show that degree class - a coarse measure of student performance used in the UK - causally affects graduates' industry and hence expected wages. To control for unobserved ability, we employ a regression discontinuity...

Persistent link: https://www.econbiz.de/10011146148

Dynastic Management

Caselli, Francesco; Gennaioli, Nicola - Centre for Economic Performance, LSE - 2006

The most striking difference in corporate-governance arrangements between rich and poor countries is that the latter rely much more heavily on the dynastic family firm, where ownership and control are passed on from one generation to the other. We argue that if the heir to the family firm has no...

Persistent link: https://www.econbiz.de/10005150997