Why Trade Matters After All

Ralph Ossa

No 18113, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: I show that accounting for cross-industry variation in trade elasticities greatly magnifies the estimated gains from trade. The main idea is as simple as it is general: While imports in the average industry do not matter too much, imports in some industries are critical to the functioning of the economy, so that a complete shutdown of international trade is very costly overall.

JEL-codes: F10 (search for similar items in EconPapers)
Date: 2012-05
New Economics Papers: this item is included in nep-int
Note: ITI
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Citations: View citations in EconPapers (69)

Published as Ralph Ossa, 2015. "Why trade matters after all," Journal of International Economics, vol 97(2), pages 266-277.

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