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world. Distance volumes and product characteristics matter. In addition, we find that ports efficiency is an important … determinant of shipping costs. Improving port efficiency from the 25th to the 75th percentile reduces shipping costs by 12 percent ….S. markets than import tariffs. We investigate the determinants of shipping costs to the U.S. with a large database of more than …
Persistent link: https://www.econbiz.de/10013233046
The standard source for pre-WWII global freight rate trends is the Isserlis British tramp shipping index. We think it … the precipitous decline in nominal freight rates before the World War I, but it also extends the series to the 1940s …. Furthermore, our new series is linked to the post-World War II era (documented by David Hummels), so that we can be more precise …
Persistent link: https://www.econbiz.de/10013292457
In this paper we study the role of the transportation sector in world trade. We build a spatial model that centers on … the interaction of the market for (oceanic) transportation services and the market for world trade in goods. The model … delivers equilibrium trade flows, as well as equilibrium trade costs (shipping prices). Using detailed data on vessel movements …
Persistent link: https://www.econbiz.de/10012951874
relative prices. We turn next to economic explanations for this so-called border effect and to its dynamics. Distance, unit-shipping …
Persistent link: https://www.econbiz.de/10013225810
effects of ozone on respiratory related health conditions using daily boat arrivals and departures into the two major ports of … local ozone pollution, time-varying pollution due to port activity is arguably a randomly determined event uncorrelated with …
Persistent link: https://www.econbiz.de/10013231226
distance, and significantly contribute to the higher shipping prices facing the developing world. Markups increase shipping … and perhaps lower incomes. This paper investigates price discrimination in the shipping industry and the role it plays in … determining transportation costs. In the presence of market power, shipping prices depend on the demand characteristics of goods …
Persistent link: https://www.econbiz.de/10012777612
What is the role of transport improvements in globalization? We argue that the nineteenth century is the ideal testing ground for this question: freight rates fell on average by 50% while global trade increased 400% from 1870 to 1913. We estimate the first indices of bilateral freight rates for...
Persistent link: https://www.econbiz.de/10012759104
We study the returns to owning dry bulk cargo ships. Ship earnings exhibit a high degree of mean reversion, driven by industry participants' competitive investment responses to shifts in demand. Ship prices are far too volatile given the mean reversion in earnings. We show that high current ship...
Persistent link: https://www.econbiz.de/10013078599
A number of economic studies have used a proxy for world real economic activity derived from shipping costs. This … with world output, and ability to predict commodity prices. I conclude that measures derived from world industrial …
Persistent link: https://www.econbiz.de/10013233754
We study the relationship between market structure and innovation in the global automobile industry from 1982 to 2004 using the dynamic industry framework of Ericson and Pakes (1995). Firms optimally choose a continuous level of innovation in a strategic and forward-looking manner, while...
Persistent link: https://www.econbiz.de/10013143775