Comment: Inferring trade costs from trade booms and trade busts
Corlay, Guillaume; Dupraz, Stéphane; Labonne, Claire; Muller, Anne; Antonin, Céline; Daudin, Guillaume (2017), Comment: Inferring trade costs from trade booms and trade busts, International Economics, 152, p. 1-8. 10.1016/j.inteco.2017.10.001
Type
Article accepté pour publication ou publiéDate
2017Journal name
International EconomicsNumber
152Publisher
Elsevier
Pages
1-8
Publication identifier
Metadata
Show full item recordAuthor(s)
Corlay, GuillaumeEcole Nationale de la Statistique et de l'Analyse Economique [ENSAE]
Dupraz, Stéphane
Department of Economics Columbia University
Labonne, Claire
Ecole Nationale de la Statistique et de l'Analyse Economique [ENSAE]
Centre de recherche de la Banque de France
Muller, Anne
Ecole Nationale de la Statistique et de l'Analyse Economique [ENSAE]
Antonin, Céline
Observatoire français des conjonctures économiques (Sciences Po) [OFCE]
Daudin, Guillaume
Laboratoire d'Economie de Dauphine [LEDa]
Abstract (EN)
Jacks et al. (2011) offer a method to measure trade costs that relies exclusively on bilateral exports and GDP statistics. They argue that the reduction in trade costs was the main driving force of trade growth during the first globalization (1870–1913), whereas economic expansion was the main driving force during the second globalization (1950–2000). This potentially major result is driven by the use of an ad hoc aggregation method of bilateral trade costs at the country and at the global levels. What Jacks et al. (2011) capture is that some pairs of countries experienced faster trade growth in the first globalization than in the second globalization. More generally, we cast doubts on the possibility to reach conclusions on aggregate costs with a method that excludes a priori changes in non-trade costs determinants of openness rates and hence can only rephrase the information contained in them.Subjects / Keywords
Trade costs; Globalization; Gravity model; Aggregation; Structure effectRelated items
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