Long-term Trends in Intra-Industry Trade

Abstract

This chapter examines European trade patterns over the period 1980–99, using data on values and unit values of bilateral trade flows at a very detailed level. Reviewing the related concerns for economic policy permits the identification of a key issue: quality matters. A new method of measurement highlights the fact that the development of intra-industry trade is associated with a specialization of countries along quality lines. This result sheds light on the often neglected potential adjustment costs of intra-industry trade in vertically differentiated products. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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