Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
962520 | Journal of International Economics | 2015 | 12 Pages |
Abstract
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.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Ralph Ossa,