-homothetic income effects, and 24% due to fixed trade cost effects. Counterfactual variable (fixed) cost reductions suggest cases of …Almost Ideal gravity associates zero trade flows with variable and fixed trade cost variation in a flexible demand … system. Latent trade shares between non-partners are inferred from the Tobit estimator applied to trade among 75 countries …

context of international trade. An influential hypothesis states that export pioneers are too few relative to social optimum … Chinese electronics exports. Our key finding is that "missing pioneers" are a low-probability event for large countries, but …

This paper estimates the micro-level costs of adjusting capital using detailed data on" investment decisions in the US … clear evidence of non-convex adjustment costs inaction for capital investment and quadratic adjustment costs conditional on … positive or negative" investment. The adjustment costs for utilization show similar non-convexities but with smaller …

years 1989-2001. Earlier CD-ROMs distributed by the NBER described data on U.S. imports and exports from 1972-1994, and …This paper describes the updating of the NBER trade dataset, which now provides U.S. import and export values to the … year 2001, disaggregated by Harmonized System (HS), Standard International Trade Classification (SITC), and the U …

generate heterogeneous domestic sourcing responses to trade shocks …

Persistent differences in interest rates across countries account for much of the profitability of currency carry trade … finished goods. This pattern arises in a complete-markets model with trade specialization and limited shipping capacity … producers. Empirically, a commodity-based strategy explains a substantial portion of the carry-trade risk premia, and all of …

or stifle innovation. Using three distinct sources of variation to identify rising trade exposure, we provide a causal …, profitability, and R&D expenditure all decline within trade-exposed firms. The trade-induced contraction along all margins of …

is centered in trade-exposed local labor markets and that commences prior to the divisive 2016 U.S. presidential election …. Exploiting the exogenous component of rising trade with China and classifying legislator ideologies by congressional voting … disproportionately removed moderate representatives from office in the 2000s. Trade-exposed districts with an initial majority white …

bias towards skilled occupations. We use a novel measure of the propensity of a firm to engage in technology investment and … from 2009 to 2013. We find that techies and importing of intermediate inputs raise skill-biased productivity, while imports … productivity. The techie and trade effects are large, and can account for much of the aggregate increase in skilled employment from …