1 option
Growth and Trade with Frictions: A Structural Estimation Framework / James E. Anderson, Mario Larch, Yoto V. Yotov.
- Format:
- Book
- Author/Creator:
- Anderson, James E.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w21377.
- NBER working paper series no. w21377
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Growth and Trade with Frictions
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2015.
- Summary:
- We build and estimate a structural dynamic general equilibrium model of growth and trade. Trade affects growth through changes in consumer and producer prices that in turn stimulate or impede physical capital accumulation. At the same time, growth affects trade, directly through changes in country size and indirectly through altering the incidence of trade costs. The model combines structural gravity with a capital accumulation specification of the transition between steady states. Theory translates into an intuitive econometric system that identifies the causal impact of trade on income and growth, and also delivers estimates of the key structural parameters in our model. Counterfactual experiments based on the estimated model give evidence for strong dynamic relationships between growth and trade, resulting in doubling of the static gains from trade liberalization.
- Notes:
- Print version record
- July 2015.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.