| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13132 |
| DP13132 Commodity Trade Matters | |
| Thibault Fally | |
| 发表日期 | 2018-08-21 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Primary commodities are used as inputs into all production processes, yet they account for approximately 16 percent of world trade. Despite their share in trade, we show that the aggregate gains from trade are largely understated if we ignore key features of commodities: low price elasticities of demand (difficulty in finding substitutes), low price elasticities of supply, and high dispersion of natural resources across countries. We develop a general-equilibrium model of consumption, production, and input-output linkages that explicitly accounts for these features. Our simulations confirm that the gains from trade are significantly larger, especially when considering large trade cost changes. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Gains from trade Primary commodities Multi-stage production |
| URL | https://cepr.org/publications/dp13132 |
| 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/541936 |
| 推荐引用方式 GB/T 7714 | Thibault Fally. DP13132 Commodity Trade Matters. 2018. |
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