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forty countries. Fitting the model to 2004 data on GDP and bilateral trade we calculate how relative wages, real wages, and … current accounts balance. The U.S. manufacturing trade deficit with China falls to $65 billion from its 2004 level of $167 …
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"Firm size follows Zipf's Law, a very fat-tailed distribution that implies a few large firms account for a disproportionate share of overall economic activity. This distribution of firm size is crucial for evaluating the welfare impact of economic policies such as barriers to entry or trade...
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