Trade, product variety and welfare: a quantitative assessment for mainland China

Ralf Ruhwedel () and Michael Funke

Quantitative Macroeconomics Working Papers from Hamburg University, Department of Economics

Abstract: We calculate a variety of welfare gains for Mainland China, following the approach of Romer (1994), who emphasized that proper modelling of the impact of trade restrictions on the number of available product varieties is crucial for quantifying the welfare impact of trade liberalization. The empirical work presented relies on direct measures of product variety calculated from highly disaggregated trade data. The emerging conclusion is that freer trade has indeed boosted welfare.

Keywords: trade liberalization; product variety; welfare; China (search for similar items in EconPapers)
Date: 2008-06
New Economics Papers: this item is included in nep-cna, nep-dev and nep-int
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Journal Article: Trade, product variety and welfare: a quantitative assessment for mainland China (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ham:qmwops:20806

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