I develop a model of firm-to-firm search and matching to show that the impact of falling trade costs on firm sourcing decisions and consumer welfare depends on the relative size of search externalities in domestic and international markets. These externalities can be positive if firms share...

Vessel traffic data based on the Automatic Identification System (AIS) is a big data source for nowcasting trade activity in real time. Using Malta as a benchmark, we develop indicators of trade and maritime activity based on AIS-based port calls. We test the quality of these indicators by...

This paper assesses external trade statistics in Lao PDR by looking at mirror statistics, and with reference to international experience in compilation and dissemination of external trade data. We find that exports could be underreported by 8 to 50 percent, while imports could be underreported...

This paper sets out the key concepts necessary to calculate trade in value added using input-output tables. We explain the basic structure of an input-output table and the matrix algebra behind the computation of trade in value added statistics. Specifically, we compute measures of domestic...

In March 2017, the IMF published an upgrade of its Direction of Trade Statistics (DOTS) dataset. This paper documents the new methodology that has been developed to estimate missing observations of bilateral trade statistics on a monthly basis. The new estimation procedure is founded on a...

This paper analyzes asymmetries in direct investment positions reported in the Coordinated Direct Investment Survey (CDIS) following a top down approach. First, it examines asymmetries at global level; second, it examines asymmetries between CDIS reported and derived data for individual...

Data published in IMF country staff reports and International Financial Statistics (IFS) may differ for identical variables and, at times, users may be unaware of the reasons for these differences and lack the information needed to permit reconciliation. Such discrepancies stem principally from...

The quality of the estimated data in DOTS depends on the availability and accuracy of direction of trade reports and the estimation methodology. Because of the low coverage of monthly reporting, the estimating procedure plays a role of increased importance. This study, however, reveals two...

This paper investigates the currency reforms undertaken subsequent to the dissolution of the Austro-Hungarian Empire in 1918. The reforms were motivated by the lack of coordination of monetary policy and the absence of a rule for sharing seigniorage. Because the Successor States’ reforms were...