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Trade Costs in the First Wave of Globalization
Jacks, David S.; Meissner, Christopher M.; Novy, Dennis - 2021
What drives globalization today and in the past? We employ a new micro-founded measure of bilateral trade costs based on a standard model of trade in differentiated goods to address this question. These trade costs gauge the difference between observed bilateral trade and frictionless trade....
Persistent link: https://www.econbiz.de/10013224437
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Trade Costs
Anderson, James E.; van Wincoop, Eric - 2021
This paper surveys the measurement of trade costs --- what we know, and what we don't know but may usefully attempt to find out. Partial and incomplete data on direct measures of costs go together with inference on implicit costs from trade flows and prices. Total trade costs in rich countries...
Persistent link: https://www.econbiz.de/10013246402
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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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One Money, One Market : Estimating the Effect of Common Currencies on Trade
Rose, Andrew Kenan - 2021
A gravity model is used to assess the separate effects of exchange rate volatility and currency unions on international trade. The panel data set used includes bilateral observations for five years spanning 1970 through 1990 for 186 countries. In this data set, there are over one hundred...
Persistent link: https://www.econbiz.de/10013231861
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The Trade and Investment Effects of Preferential Trading Arrangements
Dee, Philippa; Gali, V. Jyothi - 2021
merchandise trade and investment. It does so by estimating gravity models of bilateral trade and investment. It finds that recent … explicitly for whether the trade and investment effects are significantly different after PTA formation than before accounts for … less favourable finding in this study. It is also possible for PTAs to have adverse effects on investment flows. If …
Persistent link: https://www.econbiz.de/10013234974
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One Reason Countries Pay Their Debts : Renegotiation and International Trade
Rose, Andrew Kenan - 2021
This paper estimates the effect of sovereign debt renegotiation on international trade. Sovereign default may be associated with a subsequent decline in international trade either because creditors want to deter default by debtors, or because trade finance dries up after default. To estimate the...
Persistent link: https://www.econbiz.de/10013240938
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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 Tip of the Iceberg : A Quantitative Framework for Estimating Trade Costs
Irarrazabal, Alfonso A. - 2013
Casual empiricism suggests that additive trade costs, such as quotas, per-unit tariffs, and, in part, transportation costs, are prevalent. In spite of this, we have no broad and systematic evidence of the magnitude of these costs. We develop a new empirical framework for estimating additive...
Persistent link: https://www.econbiz.de/10013078862
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Fiscal Policies, Capital Formation, and Capitalism
Feldstein, Martin S. - 2011
technology of private investment. Government policies that discourage saving might make the Schumpeterian vision of a shift from …
Persistent link: https://www.econbiz.de/10013118689