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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP5981 |
DP5981 A Solution to Two Paradoxes of International Capital Flows | |
Shang-Jin Wei; Jiandong Ju | |
发表日期 | 2006-12-03 |
出版年 | 2006 |
语种 | 英语 |
摘要 | This paper tests whether trade in new goods is partially responsible for the pro-trade effects of the euro and provides a measure of the size of the effect. It works with a very large data set (about 16 million observations) covering twenty countries at the most disaggregated level of trade data that is publicly available. Using predictions from a heterogeneous-firms trade model in a multi-country environment to structure our empirical model, we find that the euro had a positive impact on trade overall. Our findings provide supportive but not conclusive evidence for the new-goods hypothesis. We also determined the pro-trade effect of euro-usage on non-Euroland nations trading with euro-users. We confirmed the absence of trade diversion for non-Eurozone EU members with sizeable overall increase comparable to that of members. |
主题 | International Macroeconomics ; International Trade and Regional Economics |
关键词 | Heterogenous firms Eurozone trade effects Melitz model Extensive margin |
URL | https://cepr.org/publications/dp5981 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534819 |
推荐引用方式 GB/T 7714 | Shang-Jin Wei,Jiandong Ju. DP5981 A Solution to Two Paradoxes of International Capital Flows. 2006. |
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