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Asymmetric Industrial Energy Prices and International Trade
Dechezleprêtre, Antoine; Sato, Misato - Centre for Economic Performance, LSE - 2015
estimate the short-run effects of sector-level energy price asymmetry on trade. We find that changes in relative energy prices … have a statistically significant but very small impact on imports. On average, a 10% increase in the energy price … these sectors however, the magnitude of the effect is such that changes in energy price differences across time explain less …
Persistent link: https://www.econbiz.de/10011189070
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Winners and Losers from a Commodities-for-Manufactures Trade Boom
Costa, Francisco; Garred, Jason; Pessoa, Joao Paulo - Centre for Economic Performance, LSE - 2014
A recent boom in commodities-for-manufactures trade between China and other developing countries has led to much concern about the losers from rising import competition in manufacturing, but little attention on the winners from growing Chinese demand for commodities. Using census data for...
Persistent link: https://www.econbiz.de/10010775659
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Heterogeneous Firms and Trade
Melitz, Marc J.; Redding, Stephen J. - Centre for Economic Performance, LSE - 2012
This paper reviews the new approach to international trade based on firm heterogeneity in differentiated product markets. This approach explains a variety of features exhibited in disaggregated trade data, including the higher productivity of exporters relative to non-exporters, within-industry...
Persistent link: https://www.econbiz.de/10010599240
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A Many-Country Model of Industrialization
Breinlich, Holger; Cuñat, Alejandro - Centre for Economic Performance, LSE - 2011
We draw attention to the role of economic geography in explaining important cross-sectional facts which are difficult to account for in existing models of industrialization. By construction, closed-economy models that stress the role of local demand in generating sufficient expenditure on...
Persistent link: https://www.econbiz.de/10009323008
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The Empirics of Firm Heterogeneity and International Trade
Bernard, Andrew B.; Jensen, J. Bradford; Redding, Stephen J. - Centre for Economic Performance, LSE - 2011
This paper reviews the empirical evidence on firm heterogeneity in international trade. A first wave of empirical findings from micro data on plants and firms proposed challenges for existing models of inter- national trade and inspired the development of new theories emphasizing firm...
Persistent link: https://www.econbiz.de/10009352260
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Heterogeneous Firm-Level Responses to Trade Liberalisation: A Test Using Stock Price Reactions
Breinlich, Holger - Centre for Economic Performance, LSE - 2011
This paper presents novel empirical evidence on key predictions of heterogeneous firm models by examining stock market reactions to the Canada-United States Free Trade Agreement of 1989 (CUSFTA). Using the uncertainty surrounding the agreement's ratification, I show that the pattern of abnormal...
Persistent link: https://www.econbiz.de/10009359513
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The Roles of Import Competition and Export Opportunities for Technical Change
Steinwender, Claudia - Centre for Economic Performance, LSE - 2015
-profit maximizing managers to reconcile theory with the evidence. Empirically, I find that all productivity upgrades are driven by …
Persistent link: https://www.econbiz.de/10011186299
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Intermediaries in International Trade: Direct Versus Indirect Modes of Export
Bernard, Andrew B.; Grazzi, Marco; Tomasi, Chiara - Centre for Economic Performance, LSE - 2012
This paper examines the factors that give rise to intermediaries in exporting and explores the implications for trade volumes. Export intermediaries such as wholesalers serve different markets and export different products than manufacturing exporters. In particular, high market-specific fixed...
Persistent link: https://www.econbiz.de/10010535359
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Economic Geography: A Review of the Theoretical and Empirical Literature
Redding, Stephen - Centre for Economic Performance, LSE - 2009
This paper reviews the new economic geography literature, which accounts for the uneven distribution of economic activity across space in terms of a combination of love of variety preferences, increasing returns to scale and transport costs. After outlining the canonical core and periphery...
Persistent link: https://www.econbiz.de/10005796102
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Firms in International Trade
Bernard, Andrew B.; Jensen, J. Bradford; Redding, Stephen; … - Centre for Economic Performance, LSE - 2007
Despite the fact that importing and exporting are extremely rare firm activities, economists generally devote little attention to the role of firms when discussing international trade. This paper summarizes key differences between trading and non-trading firms, demonstrates how these differences...
Persistent link: https://www.econbiz.de/10005510456