General equilibrium analysis of the Eaton-Kortum model of international trade

• 成果类型: Article
• 署名作者: Alvarez, Fernando; Lucas, Robert E., Jr.
• 署名单位: University of Chicago; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; National Bureau of Economic Research
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2006.07.006
• 发表日期: 2007
• 页码: 1726-1768
• 关键词: General equilibrium; ricardian trade theory; trade volume; tariff policy

摘要

We study a variation of the Eaton-Kortum model, a competitive, constant-returns-to-scale multicountry Ricardian model of trade. We establish existence and uniqueness of an equilibrium with balanced trade where each country imposes an import tariff. We analyze the determinants of the cross-country distribution of trade volumes, such as size, tariffs and distance, and compare a calibrated version of the model with data for the largest 60 economies. We use the calibrated model to estimate the gains of a world-wide trade elimination of tariffs, using the theory to explain the magnitude of the gains as well as the differential effect arising from cross-country differences in pre-liberalization tariff levels and country size. (c) 2006 Elsevier B.V. All rights reserved.