GAINS FROM TRADE WITH VARIABLE TRADE ELASTICITIES

Wyatt J. Brooks · Pau Pujolas

10 citations0/0 files storedInternational Economic Review

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Global trade and economics Economic Growth and Productivity Global Trade and Competitiveness

Abstract

Abstract We measure gains from trade in multisector economies with nonhomothetic preferences where changes in trade costs generate reallocation of expenditure across sectors. We show how to measure the trade elasticity and how it relates to welfare. In this environment, the trade elasticity now varies both across countries and with levels of trade costs. In an application, we find that the trade elasticity varies substantially across countries and that the gains from moving from autarky to observed trade are on average between 24% and 28% greater than in a model where the trade elasticity is constant.

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References

2003The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity 2002Technology, Geography, and Trade 1990Scale Economies, Product Differentiation, and the Pattern of Trade 2006Globalization and the Gains From Variety 2004Trade Costs 2008Distorted Gravity: The Intensive and Extensive Margins of International Trade 2012New Trade Models, Same Old Gains?2002Global trade, assistance, and production : The GTAP 5 Data Base

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