G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w24380
来源IDWorking Paper 24380
Trade with Correlation
Nelson Lind; Natalia Ramondo
发表日期2018-03-05
出版年2018
语种英语
摘要We develop a trade model in which productivity presents an arbitrary pattern of correlation. The model approximates the full class of factor demand systems consistent with Ricardian theory. In particular, our framework formalizes Ricardo’s insight that countries gain more from trade with partners that have relatively dissimilar technology. Incorporating this insight entails a simple correction to the sufficient-statistic approach used for macro counterfactuals, and enables a general aggregation result that links macro demand systems to micro estimates. In our quantitative application, we estimate a multi-sector trade model which captures the possibility that nearby countries may share technology, and, hence, have correlated productivity draws. Our estimates suggest that accounting for correlation is key to calculating the gains from trade.
主题International Economics ; Trade
URLhttps://www.nber.org/papers/w24380
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/582052
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GB/T 7714
Nelson Lind,Natalia Ramondo. Trade with Correlation. 2018.
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