Why trade matters after all

• 成果类型: Article
• 署名作者: Ossa, Ralph
• 署名单位: University of Chicago; National Bureau of Economic Research
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2015.07.002
• 发表日期: 2015
• 页码: 266-277
• 关键词: Gains from trade; Multi-industry model; Trade elasticity

摘要

I show that accounting for cross-industry variation in trade elasticities greatly magnifies the estimated gains from trade. The main idea is as simple as it is general: while imports in the average industry do not matter too much, imports in some industries are critical to the functioning of the economy, so that a complete shutdown of international trade is very costly overall. (C) 2015 Elsevier B.V. All rights reserved.