Time-varying trade cost (terms) and the distance puzzle:
We present a novel two-stage gravity specification with period-varying bilateral trade cost terms. We test our specification to confirm the benchmark result on declining international distance elasticities over time, using two new data sets. Analyzing period-varying bilateral trade cost derived from...
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| Main Authors: | , |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Regensburg
Leibniz Institute for Eastern and Southeastern European Studies
June 2023
|
| Series: | IOS working papers
No. 399 |
| Online Access: | kostenfrei Volltext |
| Summary: | We present a novel two-stage gravity specification with period-varying bilateral trade cost terms. We test our specification to confirm the benchmark result on declining international distance elasticities over time, using two new data sets. Analyzing period-varying bilateral trade cost derived from our specification offers additional insights: first, globalization has erased more than a third of the effect of distance on trade cost, mostly until the mid-nineties. Second, identifying period-varying bilateral trade cost separately for domestic vs. international trade offers a natural illustration to globalization – international trade cost are less persistent than domestic trade cost. Finally, reflecting the importance of general equilibrium adjustment, total bilateral trade cost – relating partial bilateral trade cost to multilateral resistances – are more appropriate to reflect globalization than partial bilateral trade cost. |
| Physical Description: | 1 Online-Ressource (v, 24 Seiten) |
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| 520 | 3 | |a We present a novel two-stage gravity specification with period-varying bilateral trade cost terms. We test our specification to confirm the benchmark result on declining international distance elasticities over time, using two new data sets. Analyzing period-varying bilateral trade cost derived from our specification offers additional insights: first, globalization has erased more than a third of the effect of distance on trade cost, mostly until the mid-nineties. Second, identifying period-varying bilateral trade cost separately for domestic vs. international trade offers a natural illustration to globalization – international trade cost are less persistent than domestic trade cost. Finally, reflecting the importance of general equilibrium adjustment, total bilateral trade cost – relating partial bilateral trade cost to multilateral resistances – are more appropriate to reflect globalization than partial bilateral trade cost. | |
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| spelling | Frensch, Richard 1959- Verfasser (DE-588)170525511 aut Time-varying trade cost (terms) and the distance puzzle Richard Frensch and Michael Rindler Regensburg Leibniz Institute for Eastern and Southeastern European Studies June 2023 1 Online-Ressource (v, 24 Seiten) txt rdacontent c rdamedia cr rdacarrier IOS working papers No. 399 We present a novel two-stage gravity specification with period-varying bilateral trade cost terms. We test our specification to confirm the benchmark result on declining international distance elasticities over time, using two new data sets. Analyzing period-varying bilateral trade cost derived from our specification offers additional insights: first, globalization has erased more than a third of the effect of distance on trade cost, mostly until the mid-nineties. Second, identifying period-varying bilateral trade cost separately for domestic vs. international trade offers a natural illustration to globalization – international trade cost are less persistent than domestic trade cost. Finally, reflecting the importance of general equilibrium adjustment, total bilateral trade cost – relating partial bilateral trade cost to multilateral resistances – are more appropriate to reflect globalization than partial bilateral trade cost. Rindler, Michael (DE-588)1203019750 aut IOS working papers No. 399 (DE-604)BV040033175 399 http://www.dokumente.ios-regensburg.de/publikationen/wp/wp_399.pdf Verlag kostenfrei https://hdl.handle.net/10419/272225 Resolving-System kostenfrei Volltext |
| spellingShingle | Frensch, Richard 1959- Rindler, Michael Time-varying trade cost (terms) and the distance puzzle IOS working papers |
| title | Time-varying trade cost (terms) and the distance puzzle |
| title_auth | Time-varying trade cost (terms) and the distance puzzle |
| title_exact_search | Time-varying trade cost (terms) and the distance puzzle |
| title_exact_search_txtP | Time-varying trade cost (terms) and the distance puzzle |
| title_full | Time-varying trade cost (terms) and the distance puzzle Richard Frensch and Michael Rindler |
| title_fullStr | Time-varying trade cost (terms) and the distance puzzle Richard Frensch and Michael Rindler |
| title_full_unstemmed | Time-varying trade cost (terms) and the distance puzzle Richard Frensch and Michael Rindler |
| title_short | Time-varying trade cost (terms) and the distance puzzle |
| title_sort | time varying trade cost terms and the distance puzzle |
| url | http://www.dokumente.ios-regensburg.de/publikationen/wp/wp_399.pdf https://hdl.handle.net/10419/272225 |
| volume_link | (DE-604)BV040033175 |
| work_keys_str_mv | AT frenschrichard timevaryingtradecosttermsandthedistancepuzzle AT rindlermichael timevaryingtradecosttermsandthedistancepuzzle |