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This paper has two aims. The first is to reduce the range within which the true U.S.-China bilateral trade deficit lies … estimation method that takes advantage of our access to detailed Chinese Customs data at the commodity level. For example, the … revised US-China bilateral trade deficit is $15 billion to $20 billion in 1994, and $16 billion to $22 billion in 1995 …
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This paper aims to reduce the range within which the true U.S.-China bilateral trade deficit lies, and identify the … calculated U.S.-China bilateral trade deficit is $15 billion to $20 billion in 1994, and $16 billion to $22 billion in 1995 …, compared to the official range of $8 billion to $30 billion, and $9 billion to $34 billion, respectively. The widening of the U.S.-China …
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Based on an empirical gravity model of sectoral bilateral trade, we uncover three features of bilateral trade balances. First, the difficulty of gravity models in fitting the observed level of bilateral balances is likely due to the presence of unobservable bilateral trade costs. Second, the...
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