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Trade Theory with Numbers: Quantifying the Consequences of Globalization

Arnaud Costinot and Rodríguez-Clare, Andrés

Chapter Chapter 4 in Handbook of International Economics, 2014, vol. 4, pp 197-261 from Elsevier

Abstract: We review a recent body of theoretical work that aims to put numbers on the consequences of globalization. A unifying theme of our survey is methodological. We rely on gravity models and demonstrate how they can be used for counterfactual analysis. We highlight how various economic considerations—market structure, firm-level heterogeneity, multiple sectors, intermediate goods, and multiple factors of production—affect the magnitude of the gains from trade liberalization. We conclude by discussing a number of outstanding issues in the literature as well as alternative approaches for quantifying the consequences of globalization.

Keywords: Quantitative trade theory; Computable general equilibrium; Welfare effects of trade; Trade policy and globalization; Gravity equation (search for similar items in EconPapers)
JEL-codes: F10 F11 F12 F13 F60 (search for similar items in EconPapers)
Date: 2014
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Working Paper: Trade Theory with Numbers: Quantifying the Consequences of Globalization (2013) Downloads
Working Paper: Trade Theory with Numbers: Quantifying the Consequences of Globalization (2013) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:eee:intchp:4-197

DOI: 10.1016/B978-0-444-54314-1.00004-5

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