Levchenko, Andrei A.; Zhang, Jing - 2014 - This version: December 19, 2012
on trade volumes and patterns, and a non-negligible welfare impact. In the counterfactual scenario in which each country … the data. In this counterfactual scenario, welfare is also 1.6% higher for the median country compared to the baseline …. The welfare impact varies greatly across countries, ranging from ..1.1% to +4.3% among OECD countries, and from ..4.6% to …