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The US Gains from Trade: Valuation Using the Demand for Foreign Factor Services / Arnaud Costinot, Andrés Rodríguez-Clare.
- Format:
- Book
- Author/Creator:
- Costinot, Arnaud.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w24407.
- NBER working paper series no. w24407
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- US Gains from Trade
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2018.
- Summary:
- About 8 cents out of every dollar spent in the United States is spent on imports. What if, because of a wall or some other extreme policy intervention, imports were to remain on the other side of the US border? How much would US consumers be willing to pay to prevent this hypothetical policy change from taking place? The answer to this question represents the welfare cost from autarky or, equivalently, the welfare gains from trade. In this article, we discuss how to evaluate these gains using the demand for foreign factor services. The estimates of gains from trade for the US economy that we review range from 2 to 8 percent of GDP.
- Notes:
- Print version record
- March 2018.
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