Input Linkages and the Transmission of Shocks: Firm-Level Evidence from the 2011 Tohōku Earthquake
In: FEDS Working Paper No. 2015-94
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In: FEDS Working Paper No. 2015-94
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Working paper
In: US Census Bureau Center for Economic Studies Paper No. CES-WP- 15-28
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Working paper
In: American economic review, Band 113, Heft 4, S. 861-905
ISSN: 1944-7981
When countries change most favored nation (MFN) tariffs, partners that trade on MFN terms experience plausibly exogenous tariff changes. Using this variation, we estimate the trade elasticity at short and long horizons with local projections. We find that the elasticity of tariff-exclusive trade flows is −0.76 in the short run, and approximately −2 in the long run. Our long-run estimates are smaller than typical in the literature, and it takes 7 to10 years to converge to the long run, implying that (i) the welfare gains from trade are high and (ii) there are substantial convexities in the costs of adjusting exports. (JEL C51, F13, F14)
In: Journal of international economics, Band 127, S. 103391
ISSN: 0022-1996
In: CEPR Discussion Paper No. DP17296
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In: Journal of international economics, Band 133, S. 103534
ISSN: 0022-1996
In: CEPR Discussion Paper No. DP14766
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Working paper
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Working paper
In: NBER Working Paper No. w32218
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In: FRB Richmond Working Paper No. 24-3
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In: FRB Richmond Working Paper No. 24-3
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