Trade, product variety and welfare: a quantitative assessment for mainland China

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Trade, product variety and welfare: a quantitative assessment for mainland China

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Ralf Ruhwedel ()
Michael Funke ()

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Abstract

We calculate a variety of welfare gains for Mainland China, following the approach of Romer (1994), who emphasized that proper modelling of the impact of trade restrictions on the number of available product varieties is crucial for quantifying the welfare impact of trade liberalization. The empirical work presented relies on direct measures of product variety calculated from highly disaggregated trade data. The emerging conclusion is that freer trade has indeed boosted welfare.

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Paper provided by Hamburg University, Department of Economics in its series Quantitative Macroeconomics Working Papers with number 20806.

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Date of creation: Jun 2008
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Handle: RePEc:ham:qmwops:20806

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This paper has been announced in the following NEP Reports:

NEP-ALL-2008-10-07 (All new papers)
NEP-CNA-2008-10-07 (China)
NEP-DEV-2008-10-07 (Development)
NEP-INT-2008-10-07 (International Trade)

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Other versions:
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Other versions:
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