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Trade booms, trade busts, and trade costs
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Jacks, David S., Meissner, Christopher M. and Novy, Dennis (2009) Trade booms, trade busts, and trade costs. In: Conference on Trade Costs, University of Nottingham, 19-20 Jun 2009 (Unpublished)
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Official URL: http://www.nottingham.ac.uk/gep/documents/conferen...
Abstract
What has driven trade booms and trade busts in the past and present? We derive a micro-founded measure of trade frictions from leading trade theories and use it to gauge the importance of bilateral trade costs in determining international trade flows. We construct a new balanced sample of bilateral trade flows for 130 country pairs across the Americas, Asia, Europe, and Oceania for the period from 1870 to 2000 and demonstrate an overriding role for declining trade costs in the pre-World War I trade boom. In contrast, for the post-World War II trade boom we identify changes in output as the dominant force. Finally, the entirety of the interwar trade bust is explained by increases in trade costs.
| Item Type: | Conference Item (Paper) | ||||
|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HB Economic Theory | ||||
| Divisions: | Faculty of Social Sciences > Economics | ||||
| Series Name: | NBER Working Papers | ||||
| Official Date: | 20 June 2009 | ||||
| Dates: |
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| Status: | Not Peer Reviewed | ||||
| Publication Status: | Unpublished | ||||
| Version or Related Resource: | Jacks, David S., et al. (2009). Trade booms, trade busts, and trade costs. Invited Speaker : Department of Essex, University of Essex. Colchester 30 Apr 2009. Jacks, David S., et al. (2009). Trade booms, trade busts, and trade costs. Gravity, specialization, and the geography of world trade: recent developments. Valencia, 9-10 Jul 2009. Jacks, David S., et al. (2009). Trade booms, trade busts, and trade costs. ETSG Eleventh Annual Conference. Rome 10-12 Sep 2009. | ||||
| Conference Paper Type: | Paper | ||||
| Title of Event: | Conference on Trade Costs | ||||
| Type of Event: | Conference | ||||
| Location of Event: | University of Nottingham | ||||
| Date(s) of Event: | 19-20 Jun 2009 | ||||
| Related URLs: |
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