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Gravity for Dummies and Dummies for Gravity Equations
Baldwin, Richard E. - 2010
This paper provides a minimalist derivation of the gravity equation and uses it to identify three common errors in the literature, what we call the gold, silver and bronze medal errors. The paper provides estimates of the size of the biases taking the currency union trade effect as an example....
Persistent link: https://www.econbiz.de/10012760650
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Estimating the Effect of Currency Unions on Trade and Output
Frankel, Jeffrey A.; Rose, Andrew Kenan - 2021
Gravity-based cross-sectional evidence indicates that currency unions stimulate trade; cross-sectional evidence indicates that trade stimulates output. This paper estimates the effect that currency union has, via trade, on output per capita. We use economic and geographic data for over 200...
Persistent link: https://www.econbiz.de/10013222899
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Borders, Trade and Welfare
Anderson, James E.; van Wincoop, Eric - 2021
International economic integration yields large potential welfare effects, even in a static constant returns competitive world economy. Our method is novel. The effect of border barriers on trade flows is often inferred from gravity models. But their rather atheoretic structure precludes welfare...
Persistent link: https://www.econbiz.de/10013234364
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Currency Unions and Trade : A Post-Emu Mea Culpa
Glick, Reuven - 2015
In our European Economic Review (2002) paper, we used pre-1998 data on countries participating in and leaving currency unions to estimate the effect of currency unions on trade using (then-) conventional gravity models. In this paper, we use a variety of empirical gravity models to estimate the...
Persistent link: https://www.econbiz.de/10013015976
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Home and Regional Biases and Border Effects in Armington Type Models
Whalley, John - 2010
recent literature on both home bias and the border effect. These terms take on multiple definitions in the literature and are … of various forms of preference bias in trade models and measures of their associated trade effects based on a concept we … bias is typically specified as an Armington preference for domestic over comparable foreign products in a trade model where …
Persistent link: https://www.econbiz.de/10012760730
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Entry, Trade, and Exporting Over the Cycle
Alessandria, George A. - 2019
We study how international trade and the exporting decisions of establishments affect establishment creation over the business cycle in a general equilibrium model. The model captures two key features of establishment and exporter dynamics: i) new establishments start small and grow over time...
Persistent link: https://www.econbiz.de/10012863689
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Networks Versus Markets in International Trade
Rauch, James E. - 2012
I propose a network/search view of international trade in differentiated products. I present evidence that supports the view that proximity and common language/colonial ties are more important for differentiated products than for products traded on organized exchanges in matching international...
Persistent link: https://www.econbiz.de/10013113599
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The Effects of Financial Crises on International Trade
Ma, Zihui; Cheng, Leonard K.H - 2022
This paper studies empirically the effects of financial crises on international trade. The major findings are that banking crises had a negative impact on imports but a positive impact on exports in the short term, whereas currency crises decreased imports in the short term and stimulated...
Persistent link: https://www.econbiz.de/10013324031
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Do WTO Members Have More Liberal Trade Policy?
Rose, Andrew Kenan - 2022
This paper uses 68 measures of trade policy and trade liberalization to ask if membership in theWorld Trade Organization (WTO) and its predecessor the General Agreement on Tariffs and Trade (GATT) is associated with more liberal trade policy. Almost no measures of trade policy are significantly...
Persistent link: https://www.econbiz.de/10013308333
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The Rise and Fall of World Trade, 1870-1939
Estevadeordal, Antoni; Frantz, Brian; Taylor, Alan M. - 2021
Measured by the ratio of trade to output, the period 1870 1913 marked the birth of the first era of trade globalization and the period 1914 39 its death. What caused the boom and bust? We use an augmented gravity model to examine the gold standard, tariffs, and transport costs as determinants of...
Persistent link: https://www.econbiz.de/10013223049