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Dynamic gravity: endogenous country size and asset accumulation

Olivero, María Pía; Yotov, Yoto V. - In: Canadian Journal of Economics 45 (2012) 1, pp. 64-92

Numerous gravity applications have resorted to panel data econometric techniques over the past decade. However, with the theory of gravity being so far only static, these estimations lack solid structural dynamic foundations. As a consequence, a consensus on a unified dynamic gravity estimation...

Persistent link: https://www.econbiz.de/10009650423

Firm Heterogeneity and Trade-Induced Layoffs: An Empirical Investigation

Yotov, Yoto V.; Zylkin, Thomas; Uysal, Pinar - LeBow College of Business, Drexel University - 2014

We use a novel data set with verified observations of trade-induced layoffs by U.S. firms to study the interaction between firm productivity and trade liberalization as key determinants of firm-level job destruction due to trade. We find that patterns of trade-induced layoffs are broadly...

Persistent link: https://www.econbiz.de/10011145244

Gold Standard Gravity

Anderson, James; Yotov, Yoto V. - Department of Economics, Boston College - 2012

This paper provides striking confirmation of the restrictions of the structural gravity model of trade. Structural forces predicted by theory explain 95% of the variation of the fixed effects used to control for them in the recent gravity literature, fixed effects that in principle could reflect...

Persistent link: https://www.econbiz.de/10010575545

Gravity, Scale and Exchange Rates

Anderson, James; Vesselovsky, Mykyta; Yotov, Yoto V. - National Bureau of Economic Research (NBER) - 2013

We develop a structural gravity model that introduces scale effects in bilateral trade. Scale effects and incomplete passthrough give two channels through which exchange rates have real effects on trade patterns. Estimates from Canadian provincial trade data identify these effects through their...

Persistent link: https://www.econbiz.de/10010821781

Gravity, Distance, and International Trade

Baier, Scott L.; Kerr, Amanda; Yotov, Yoto V. - 2017

We review and interpret the main theoretical developments in the gravity literature from its very early, a-theoretical applications to the latest structural contributions. We also discuss challenges and implement methods to estimate empirical gravity equations. We finish with a presentation and...

Persistent link: https://www.econbiz.de/10011615912

Growth and Trade with Frictions: A Structural Estimation Framework

Anderson, James E.; Larch, Mario; Yotov, Yoto V. - 2015

We build and estimate a structural dynamic general equilibrium model of growth and trade. Trade affects growth through changes in consumer and producer prices that in turn stimulate or impede physical capital accumulation. At the same time, growth affects trade, directly through changes in...

Persistent link: https://www.econbiz.de/10011307111

Estimating General Equilibrium Trade Policy Effects: GE PPML

Anderson, James E.; Larch, Mario; Yotov, Yoto V. - 2015

We develop a simple estimation procedure for general equilibrium (GE) comparative static analysis of gravity models …. Non-linear solvers of estimated models are replaced by (constrained) regressions. Applied economists can more readily … readily extend to a wide class of general equilibrium production models. …

Persistent link: https://www.econbiz.de/10011388271

Arming in the Global Economy: The Importance of Trade with Enemies and Friends

Garfinkel, Michelle R.; Syropoulos, Constantinos; … - 2019

We analyze how trade openness matters for interstate conflict over productive resources. Our analysis features a terms-of-trade channel that makes security policies trade-regime dependent. Specifically, trade between two adversaries reduces each one’s incentive to arm given the opponent’s...

Persistent link: https://www.econbiz.de/10012018191

On the Effects of Sanctions on Trade and Welfare: New Evidence Based on Structural Gravity and a New Database

Felbermayr, Gabriel J.; Syropoulos, Constantinos; … - 2019

Using a new, global data base covering the years 1950 to 2015, we study the impact of sanctions on international trade and welfare. We make use of the rich dimensionality of our data and of the latest developments in the structural gravity literature. Starting with a broad evaluation by sanction...

Persistent link: https://www.econbiz.de/10012052834

The Currency Union Effect: A PPML Re-assessment with High-Dimensional Fixed Effects

Larch, Mario; Wanner, Joschka; Yotov, Yoto V.; Zylkin, … - 2017

Recent work on the effects of currency unions (CUs) on trade stresses the importance of using many countries and years in order to obtain reliable estimates. However, for large samples, computational issues limit choice of estimator, leaving an important methodological gap. To address this gap,...

Persistent link: https://www.econbiz.de/10011657185