accumulation, and trade in financial assets. The model is calibrated to match Colombian exporter dynamics, sectoral trade openness … predicts much larger gains from these reforms than models that abstract from exporter dynamics, sectoral heterogeneity, trade …

-parametric sufficient statistics for arbitrage gains from trade and terms of trade, and a non-parametric elasticity of terms of trade with … respect to supply. For world manufacturing trade 2000-2014, China's gains rose 2%yearly and terms of trade fell 8.3%. US gains … fell 2% yearly and terms of trade rose 5.5%. Counterfactual industrial policy that raises US 2014 world sales share by 1 …

This paper studies the implications of household heterogeneity for trade. I develop a model where household … heterogeneity is induced via incomplete markets and results in heterogeneous price elasticities. Conditional on exposure to trade … experience different gains from trade. I calibrate the model to match bilateral trade flows and micro-facts about household …

Yes. We state closed-form expressions for steady state gains from trade that apply in a class of dynamic trade models …. The gains are a function of the domestic trade share and the long-run elasticity of trade with respect to iceberg trade … long-run elasticity cannot be estimated in one step by relying on tariff variation as shifters of trade costs. We show …

taxes may not lead to strict Pareto gains from trade. Rather, this scheme must be augmented by policies which give factors … an incentive to move: hence, the role for trade adjustment assistance (TAA). We demonstrate that by knowledge of the … commodity taxes, can lead to Pareto gains from trade under the conditions we identify …

Do theoretical welfare gains from trade translate into aggregate measures of economic activity? We calculate the … changes in real GDP and real consumption that result from changes in trade costs in a range of workhorse trade models … GDP and measured aggregate productivity rise in response to reductions in variable trade costs if GDP deflators capture …

We challenge the conventional wisdom on the variety and productivity gains from trade liberalization which are commonly … referred to as "new" gains from trade. In particular, we show that the import variety gains measured in studies such as Broda … then account for all these gains and losses in an application to the Canada-US Free Trade Agreement and show that Canada …

In a standard multi-sector, heterogeneous-firm trade model the effect of tariffs on entry, especially in the presence … trade, entry, and welfare effects of trade liberalization over the period 1990-2010. We find that the impact on firm entry … was larger in Advanced Economies relative to Emerging and Developing Economies; that more than 90% of the gains from trade …

quantification of the gains from trade. We first focus on the impact of trade liberalization on imported variety by analyzing the … resulting welfare gains were small because of strong heterogeneity across imported goods. Upon trade liberalization, the new … (domestic plus imported) can either increase, decrease or remain constant with trade liberalization. More importantly, the gains …

Building on Eaton and Kortum's (2002) model of Ricardian trade, Alvarez and Lucas (2005) calculate that a small country … representing 1% of the world's GDP experiences a gain of 41% as it goes from autarky to frictionless trade with the rest of the … world. But the gains from openness, which includes not only trade but all the other ways through which countries interact …