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Measured Gains from International Trade

Author

Listed:
  • Javier Cravino

    (UCLA)

  • Ariel Burstein

    (UCLA)

Abstract

We study the implications of trade liberalizations on real GDP and real consumption in a widely-used class of models in international trade. We calculate the change in aggregate quantities in response to a reduction in international trade costs, following as closely as possible the procedures used by statistical agencies in the US. Real GDP rises in response to a reduction in variable trade costs if measured producer price indices partly capture the decline in trade costs. The change in measured real consumption from a change in trade costs coincides, up to a first-order approximation, with the change in welfare of the representative consumer.

Suggested Citation

  • Javier Cravino & Ariel Burstein, 2011. "Measured Gains from International Trade," 2011 Meeting Papers 738, Society for Economic Dynamics.
    • Handle: RePEc:red:sed011:738
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    Cited by:

    1. Costinot, Arnaud & Rodríguez-Clare, Andrés, 2014. "Trade Theory with Numbers: Quantifying the Consequences of Globalization," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 197-261, Elsevier.

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