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Almost Ideal gravity associates zero trade flows with variable and fixed trade cost variation in a flexible demand system. Latent trade shares between non-partners are inferred from the Tobit estimator applied to trade among 75 countries and 25 sectors in 2006. Latent Trade Bias (LTB) is the...
Persistent link: https://www.econbiz.de/10012482496
economic theory. This review is a tale of the orphan's reunion with its heritage and the benefits that have flowed from it …
Persistent link: https://www.econbiz.de/10012462081
The effects of geography and productivity on the global pattern of production are captured here in a specific factors gravity model. Simple enough for sharp results, the model is yet rich enough to contain the high dimensional productivity frictions in production and distribution of a many...
Persistent link: https://www.econbiz.de/10012464007
border. We show that the gravity model usually estimated does not correspond to the theory behind it. We solve the 'border … puzzle' by applying the theory seriously. We find that national borders reduce trade between the US and Canada by about 44 …
Persistent link: https://www.econbiz.de/10012470650
The standard theory of trade reform uses a passive government budget constraint, in which changes in tariff revenue are …
Persistent link: https://www.econbiz.de/10012473001