American Economic Review· 2012Q1
New Trade Models, Same Old Gains?
- 1,669citations
- Q1SCImago
- 2012year
Short summary
Despite a decade of micro-level data and new trade models, the estimated welfare gains from international trade have not significantly changed.
AI-generated from the title and abstract; the full text is not read.
Key points
- Micro-level data has been influential in international trade research for the past ten years.
- New trade models have been developed to explain newly uncovered stylized facts.
- The paper investigates the impact of these micro-level advancements on estimating welfare gains from trade.
AI-generated from the title and abstract; the full text is not read.
Abstract
Micro-level data have had a profound influence on research in international trade over the last ten years. In many regards, this research agenda has been very successful. New stylized facts have been uncovered and new trade models have been developed to explain these facts. In this paper we investigate to what extent answers to new micro-level questions have affected answers to an old and central question in the field: how large are the welfare gains from trade? A crude summary of our results is: “So far, not much.” (JEL F11, F12)
The authors' abstract, as published at the source. American Economic Review, 2012 · DOI ↗
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Field: General Economics, Econometrics and Finance
General Economics, Econometrics and FinanceEconomics, Econometrics and Finance