Measured Aggregate Gains from International Trade

• 成果类型: Article
• 署名作者: Burstein, Ariel; Cravino, Javier
• 署名单位: University of California System; University of California Los Angeles; National Bureau of Economic Research; University of Michigan System; University of Michigan
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20120008
• 发表日期: 2015
• 页码: 181-218
• 关键词: productivity; terms; POLICY; price; TFP

摘要

We examine the implications of workhorse trade models for how aggregate productivity, real GDP and real consumption, as measured by statistical agencies, respond to changes in trade costs. In a range of models, changes in measured productivity are equal to the inverse of an export-share weighted average of changes in variable trade costs incurred domestically. Under certain conditions, despite the multiple biases in the CPI, measured real consumption captures the first-order effects of changes in variable trade costs on welfare. Through the lens of these results, we interpret some of the empirical work on measured gains from trade.