| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17118 |
| DP17118 Triangle Inequalities in International Trade: The Neglected Dimension | |
| Reto Foellmi; Christian Hepenstrick; David Torun | |
| 发表日期 | 2022-03-23 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | The so-called triangle inequality (TI) in international trade should, theoretically, hold for any three countries to avoid cross-border arbitrage. When trade costs change, re-routing opportunities—as captured by the TI—might arise because a shipment through an intermediary becomes cheaper under adjusted trade costs. We show that the widely-used “exact hat algebra” approach, which does not require a calibration of trade costs, is unable to measure potential gains from re-routing. In addition, we show that standard empirical estimates of iceberg trade costs often violate the TI, and are therefore inconsistent with the theory. We propose an estimation routine that respects the TI and yields estimates that are consistent with the workhorse models. This measure of trade costs allows us to compute the impact of changes in trade barriers while complying with the TI. First, we compute the welfare gains using only “direct” changes in trade costs (the standard approach). Sec-ond, we update the trade cost matrix to allow for re-routing whenever the TI is violated. We show that welfare gains are often substantially different (and usually higher) when taking the TI into ac-count. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Trade costs Re-routing Triangle inequality Welfare |
| URL | https://cepr.org/publications/dp17118-0 |
| 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/546113 |
| 推荐引用方式 GB/T 7714 | Reto Foellmi,Christian Hepenstrick,David Torun. DP17118 Triangle Inequalities in International Trade: The Neglected Dimension. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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