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Readdressing the trade effect of the Euro : allowing for currency misalignment
Hogrefe, Jan; Jung, Benjamin; Kohler, Wilhelm - 2010
We know that euro-area member countries have absorbed asymmetric shocks in ways that are inconsistent with a common … estimates of the euro effect on trade based on misalignment. This reveals asymmetric trade effects and heterogeneous outlooks … across countries for the costs and benefits from adopting the euro. -- Euro ; gravity model ; exchange rates ; purchasing …
Persistent link: https://www.econbiz.de/10003961504
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Heterogeneous economic integration agreement effects
Baier, Scott L.; Bergstrand, Jeffrey H.; Clance, Matthew W. - 2015
Gravity equations have been used for more than 50 years to estimate ex post the partial effects of trade costs on international trade flows, and the well-known - and traditionally presumed exogenous - "trade-cost elasticity" plays a central role in computing general equilibrium trade-flow and...
Persistent link: https://www.econbiz.de/10011309578
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Should TPP be formed? : on the potential economic, governance, and conflict-reducing impacts of the Trans-Pacific Partnership Agreement
Bergstrand, Jeffrey H. - In: East Asian economic review 20 (2016) 3, pp. 279-309
The proposed Trans-Pacific Partnership (TPP) is a free trade agreement among 12 Pacific Rim countries whose joint gross domestic products (GDPs) account for 36 percent of world GDP and whose mutual trade accounts for approximately 24 percent of world trade. As for most proposed free trade...
Persistent link: https://www.econbiz.de/10011764996
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Multimarket linkages, cartel discipline and trade costs
Agnosteva, Delina; Syropoulos, Constantinos; Yotov, Yoto V. - 2017
We build a model of tacit collusion between firms that operate in multiple markets to study the effects of trade costs. A key feature of the model is that cartel discipline is endogenous. Thus, markets that appear segmented are strategically linked via the incentive compatibility constraint....
Persistent link: https://www.econbiz.de/10011781965
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Border Effects in the Atlantic Triangle
Mayer, Thierry - 2012
We investigate trade integration between members of the EU, NAFTA and Mercosur. The paper evaluates the ease of access to each of those markets from each other based on a benchmark consisting of trade within countries. This methodology, often labelled border effects, furnishes a new tool for the...
Persistent link: https://www.econbiz.de/10013111633
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Putting currency misalignment into gravity : the currency union effect reconsidered
Hogrefe, Jan; Jung, Benjamin; Kohler, Wilhelm - 2012
Member countries of a currency union like the euro area have absorbed asymmetric shocks in ways that are inconsistent … within currency unions. Econometric estimation reveals that for the euro area the misalignment channel exerts a significant … demonstrate heterogeneous outlooks across countries for the costs and benefits from adopting the euro. -- Euro ; gravity model …
Persistent link: https://www.econbiz.de/10009530354
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Readdressing the Trade Effect of the Euro : Allowing for Currency Misalignment
Hogrefe, Jan; Jung, Benjamin; Kohler, Wilhelm - 2010
We know that euro-area member countries have absorbed asymmetric shocks in ways that are inconsistent with a common … estimates of the euro effect on trade based on misalignment. This reveals asymmetric trade effects and heterogeneous outlooks … across countries for the costs and benefits from adopting the euro …
Persistent link: https://www.econbiz.de/10014195259
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From theory to policy with gravitas : a solution to the mystery of the excess trade balances
Felbermayr, Gabriel; Yotov, Yoto V. - 2019
Bilateral trade balances often play an important role in the international trade policy debate. Academic economists understand that they are misleading indicators of competitiveness and of the gains from trade. However, they also recognize their political relevance, calling for accurate...
Persistent link: https://www.econbiz.de/10012055590
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From theory to policy with gravitas : a solution to the mystery of the excess trade balances
Felbermayr, Gabriel; Yotov, Yoto V. - 2019
Bilateral trade balances often play an important role in the international trade policy debate. Academic economists understand that they are misleading indicators of competitiveness and of the gains from trade. However, they also recognize their political relevance, calling for accurate...
Persistent link: https://www.econbiz.de/10012064371
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From theory to policy with gravitas : a solution to the mystery of the excess trade balances
Felbermayr, Gabriel; Yotov, Yoto V. - 2021 - This draft: March 21, 2021
Bilateral trade balances often play an important role inthe international trade policy debate. Disturbingly, several studies argue that the gravity model of trade fails when confronted with bilateral trade balances data, dubbing this "The Mystery of the Excess Trade Balances". Capitalizing on...
Persistent link: https://www.econbiz.de/10012491317