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We present an empirical implementation of a general-equilibrium model of international trade with heterogeneous manufacturing firms. The theory underlying our model is consistent with Melitz (2003) and Bernard et al. (2004). A nonlinear structural estimation procedure identifies a set of core...
Persistent link: https://www.econbiz.de/10005650451
We present an empirical implementation of a general-equilibrium model of international trade with heterogeneous manufacturing firms. The theory underlying our model is consistent with Melitz (2003). A nonlinear structural estimation procedure identifies a set of core parameters and unobserved...
Persistent link: https://www.econbiz.de/10005574892
We present an empirical implementation of a general-equilibrium model of international trade with heterogeneous manufacturing firms. The theory underlying our model is consistent with Melitz (2003). A nonlinear structural estimation procedure identifies a set of core parameters and unobserved...
Persistent link: https://www.econbiz.de/10005800870
Many contemporary theoretic studies of trade over geography reduce to an ex- amination of constant-elasticity reactions to changes in iceberg trade costs. These impacts are readily analyzed in simple constant-returns models based on the Arm- ington (1969) assumption of regionally differentiated...
Persistent link: https://www.econbiz.de/10008581253
Recent analysis across several trade theories suggests that, given appropriate calibration, trade and welfare are insensitive to the particular industrial organization. We show that industrial organization does matter, once we consider a second sector that competes for factor services.
Persistent link: https://www.econbiz.de/10008866858
Persistent link: https://www.econbiz.de/10005531440
"Dawkins, Srinivasan, and Whalley ("Calibration,""Handbook of Econometrics, "2001) propose that estimation is calibration. We illustrate their point by examining a leading econometric application in the study of international and interregional trade by Anderson and van Wincoop ("Gravity with...
Persistent link: https://www.econbiz.de/10005686293
We note that calibration parameters in a multi-country Armington trade model play a role similar to that of econometric residuals: they allow the model to fit the data exactly. We use this premise to evaluate the "fit" of a standard multi-country computable general-equilibrium model. We find...
Persistent link: https://www.econbiz.de/10005217893
Alternative perspectives on the structure of international trade have important implications for climate policy and its interaction with global markets. In this paper we consider carbon policy in the context of three important alternative trade formulations. First, is a neo-classical model based...
Persistent link: https://www.econbiz.de/10011267000
Issues of emission leakage and competitiveness are at the fore of the climate policy debate in all the major economies implementing or proposing to implement substantial emission cap-and-trade programs. Unilateral climate policy cannot directly impose emission prices on foreign sources, but it...
Persistent link: https://www.econbiz.de/10011039537