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Currency unions in prospect and retrospect
Silva, J.M.C. Santos; Tenreyro, Silvana - London School of Economics (LSE) - 2010
We critically review the recent literature on currency unions, and discuss the methodological challenges posed by the empirical assessment of their costs and benefits. In the process, we provide evidence on the economic effects of the euro. In particular, and in contrast with estimates of the...
Persistent link: https://www.econbiz.de/10010746444
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Endowments, market potential, and industrial location: evidence from interwar Poland (1918-1939)
Wolf, Nikolaus - London School of Economics (LSE) - 2004
The paper explores the determinants of industry location across interwar Poland. After more than 120 years of political and economic separation, Poland was reunified at the end of 1918. In consequence, its industry faced massive structural changes: the removal of internal tariff barriers and...
Persistent link: https://www.econbiz.de/10010744846
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International trade integration: a disaggregated approach
Chen, Natalie; Novy, Dennis - London School of Economics (LSE) - 2009
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 broad range of recent trade models including the Anderson and van … such as Technical Barriers to Trade. Trade integration is generally lower for countries that opted out of the Euro or did …
Persistent link: https://www.econbiz.de/10010745337
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Is the international border effect larger than the domestic border effect? Evidence from US trade
Coughlin, Cletus C.; Novy, Dennis - London School of Economics (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/10010745513
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The log of gravity
Santos Silva, Joao; Tenreyro, Silvana - London School of Economics (LSE) - 2005
Although economists have long been aware of Jensen's inequality, many econometric applications have neglected an important implication of it: the standard practice of interpreting the parameters of log-linearized models estimated by ordinary least squares as elasticities can be highly misleading...
Persistent link: https://www.econbiz.de/10010746706
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Missing gains from trade?
Melitz, Marc J.; Redding, Stephen - London School of Economics (LSE) - 2014
The theoretical result that there are welfare gains from trade is a central tenet of international economics. In a class of trade models that satisfy a "gravity equation," the welfare gains from trade can be computed using only the open economy domestic trade share and the elasticity of trade...
Persistent link: https://www.econbiz.de/10011125924
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European integration and the gains from trade
Ottaviano, Gianmarco I. P. - London School of Economics (LSE) - 2014
integration. On the one hand, it argues that NQTMs have indeed the potential of being used to supplement traditional ‘computable …
Persistent link: https://www.econbiz.de/10011125983
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Gravity redux: measuring international trade costs with panel data
Novy, Dennis - London School of Economics (LSE) - 2013
Barriers to international trade are known to be large but because of 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...
Persistent link: https://www.econbiz.de/10011126479
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Is the international border effect larger than the domestic border effect?: evidence from US trade
Coughlin, Cletus C.; Novy, Dennis - London School of Economics (LSE) - 2013
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 US...
Persistent link: https://www.econbiz.de/10011126481
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On the measurement of trade costs: direct vs. indirect approaches to quantifying standards and technical regulations
Chen, Natalie; Novy, Dennis - London School of Economics (LSE) - 2012
In this article, we review the literature on the measurement of trade costs in international trade with a special emphasis on nontariff measures and in particular on standards and technical regulations. We distinguish ‘direct’ from ‘indirect’ approaches. The direct approach collects...
Persistent link: https://www.econbiz.de/10010884515