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Good, The Leverhulme Centre for Research on Globalisation and Economic Policy, University of Nottingham, 31 Jan 2011 (Unpublished)

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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
Official Date:	31 January 2011
Dates:	Date Event 31 January 2011 Completion
Status:	Not Peer Reviewed
Publication Status:	Unpublished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. Novy, Dennis. (2012) International trade without CES : estimating translog gravity. Working Paper. Coventry, UK: Department of Economics, University of Warwick. (CAGE Online Working Paper Series, No.101/2012). http://wrap.warwick.ac.uk/id/eprint/57898 Novy, D. (2010). International trade without CES : estimating translog gravity. Working Paper. Coventry: Department of Economics, University of Warwick. (CAGE Online Working Paper Series, No.31). http://wrap.warwick.ac.uk/id/eprint/57575 Novy, D. (2010). International trade and monopolistic competition without CES : estimating translog gravity. Coventry: Department of Economics, University of Warwick. (The Warwick Economics Research Paper Series no. 929). http://wrap.warwick.ac.uk/id/eprint/3531 Novy, Dennis. (2013) International trade without CES : estimating translog gravity. Journal of International Economics, 89 (2). pp. 271-282. ISSN 0022-1996 http://wrap.warwick.ac.uk/id/eprint/50192
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:	Other Other Other Other Related item in WRAP Related item in WRAP Related item in WRAP http://wrap.warwick.ac.uk/50192/

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