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International trade without CES : estimating translog gravity
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Novy, Dennis (2011) International trade without CES : estimating translog gravity. In: Invited Speaker : Why Open Regionalism Is Not Always Good, The Leverhulme Centre for Research on Globalisation and Economic Policy, University of Nottingham, 31 Jan 2011 (Unpublished)
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Official URL: http://www.nottingham.ac.uk/gep/documents/seminars...
Abstract
This paper derives a micro-founded gravity equation in general equilibrium based on a translog demand system that allows for endogenous markups and substitution patterns across goods. In contrast to standard CES-based gravity equations, trade is more sensitive to trade costs if the exporting country only provides a small share of the destination country’s imports. As a result, trade costs have a heterogeneous impact across country pairs, with some trade flows predicted to be zero. I test the translog gravity equation and find strong empirical support in its favor.
| Item Type: | Conference Item (Paper) |
|---|---|
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Social Sciences > Economics |
| Date: | 31 January 2011 |
| Status: | Not Peer Reviewed |
| Publication Status: | Unpublished |
| Funder: | Economic and Social Research Council (ESRC) |
| Grant number: | RES-000-22-3112 |
| Version or Related Resource: | Novy, Dennis (2011). International trade and monopolistic competition without CES : estimating translog gravity. European Regional Science Association Congress 2011. Barcelona, 31 Aug-02 Sep 2011. Novy, Dennis (2011). International trade and monopolistic competition without CES : estimating translog gravity. Die Ordnung der Weltwirtschaft : Lektionen aus der Krise. Frankfurt am Main, 4-7 Sep 2011. Novy, Dennis (2011). International trade and monopolistic competition without CES : estimating translog gravity. Invited Speaker : Paris Trade Seminar. Paris, 22 Nov 2011. Novy, Dennis (2011). International trade and monopolistic competition without CES : estimating translog gravity. Invited Speaker : Central European University. Budapest, 6 May 2011. |
| Conference Paper Type: | Paper |
| Title of Event: | Invited Speaker : Why Open Regionalism Is Not Always Good |
| Type of Event: | Other |
| Location of Event: | The Leverhulme Centre for Research on Globalisation and Economic Policy, University of Nottingham |
| Date(s) of Event: | 31 Jan 2011 |
| Related URLs: | |
| URI: | http://wrap.warwick.ac.uk/id/eprint/44990 |
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