Papers Containing Keywords(s): 'trade models'
The following papers contain search terms that you selected. From the papers listed below, you can navigate to the PDF, the profile page for that working paper, or see all the working papers written by an author. You can also explore tags, keywords, and authors that occur frequently within these papers.
See Working Papers by Tag(s), Keywords(s), Author(s), or Search Text
Click here to search again
Frequently Occurring Concepts within this Search
Viewing papers 11 through 14 of 14
-
Working PaperMulti-Product Firms and Trade Liberalization
August 2009
Working Paper Number:
CES-09-21
This paper develops a general equilibrium model of international trade that features selection across firms, products and countries. Firms' export decisions depend on a combination of firm 'productivity' and firm-product-country 'consumer tastes', both of which are stochastic and unknown prior to the payment of a sunk cost of entry. Higher-productivity firms export a wider range of products to a larger set of countries than lower-productivity firms. Trade liberalization induces endogenous reallocations of resources that foster productivity growth both within and across firms. Empirically, we find key implications of the model to be consistent with U.S. trade data.View Full Paper PDF
-
Working PaperThe Margins of U.S. Trade (Long Version)
August 2009
Working Paper Number:
CES-09-18
Recent research in international trade emphasizes the importance of firms extensive margins for understanding overall patterns of trade as well as how firms respond to specific events such as trade liberalization. In this paper, we use detailed U.S. trade statistics to provide a broad overview of how the margins of trade contribute to variation in U.S. imports and exports across trading partners, types of trade (i.e., arm's-length versus related-party) and both short and long time horizons. Among other results, we highlight the differential behavior of related-party and arm's-length trade in response to the 1997 Asian financial crisis.View Full Paper PDF
-
Working PaperWho Dies? International Trade, Market Structure, and Industrial Restructuring
June 2001
Working Paper Number:
CES-01-04
This paper examines the role of changing factor endowments in the growth and decline of industries and regions. The implications of an endowment-based Heckscher-Ohlin trade model for plant entry and exit are tested on 20 years of data for the entire US manufacturing sector. The trade model provides predictions for which industries will see growth through the positive net entry of plants. A multi-region version of the same model has predictions for which regions will see high turnover and net entry of plants. In a country such as the U.S. that is augmenting both its physical and human capital, the least capital-intensive, least skill-intensive industries are correctly predicted to have the lowest rate of net entry. In addition, increases in regional capital and skill intensity are associated with higher probabilities of shutdown, especially for plants in industries with low initial capital and skill intensities.View Full Paper PDF
-
Working PaperAn Applied General Equilibrium Model Of Moroccan Trade Liberalization Featuring External Economies
November 1997
Working Paper Number:
CES-97-16
Since the 1920's economists have wrestled with the effects of external economies on trade liberalization. In this paper I show that under extreme conditions, externalities can reverse the gains from trade found in perfectly competitive trade models. However, the externalities needed to generate this result, even under the worst possible conditions (all expanding industries are subject to negative externalities, all contracting industries have positive externalities) are orders of magnitude larger than those estimated in Krizan (1997). This suggests that the presence of external economies of scale does not provide a credible argument for protectionism. On the other hand, the CGE model showed that external effects can increase the welfare gains from trade liberalization, but the combined effect is still small compared to other policy options. This finding contrasts sharply with many models featuring internal returns to scale that are able to generate large welfare benefits from trade liberalization.View Full Paper PDF
