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The Trade Impact of China on EMU

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  • Esther Pérez Ruiz
  • Uffe Mikkelsen
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    Abstract

    This paper investigates the asymmetries in trade spillovers from sector-specific technology shocks in China to selected euro area countries. We use a Ricardian-gravity trade model to estimate sectoral competitiveness in individual euro area countries. Simulations on the impact of productivity shocks in Chinese textiles and machinery suggest that the required adjustment in wages, prices, and factor re-allocation is widely heterogenous across euro area countries on accounts of their different specialization patterns. This raises the question of the distribution of gains and losses from external trade shocks.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 12/221.

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    Length: 25
    Date of creation: 01 Sep 2012
    Date of revision:
    Handle: RePEc:imf:imfwpa:12/221

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    Related research

    Keywords: Economic models; External shocks; Global competitiveness; Manufacturing sector; Productivity; Textile industry; competitiveness; trade barriers; transport equipment; trade deficits; trade flows; trade deficit; trade model; trade shocks; intermediate inputs; export sectors; international trade; monetary union; intermediate goods; bilateral trade; global trade analysis; trade data; export barriers; factor markets; trade theory; global trade; world economy; impact of trade; domestic prices; domestic demand; bilateral trade flows; equilibrium model; metal products; factor endowments; global recession; competitive markets; regional trade agreements; export share; regional trade; trade patterns; income differences; capital mobility; perfect competition; bilateral imports; exporting countries; economic integration; trade agreements; evidence of convergence; export sector; trade impact; elasticity of substitution; external trade; imported intermediate;

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    1. Paul Krugman, 1990. "Increasing Returns and Economic Geography," NBER Working Papers 3275, National Bureau of Economic Research, Inc.
    2. Simon J. Evenett & Wolfgang Keller, 1996. "On Theories Explaining the Success of the Gravity Equation," International Trade, EconWPA 9608001, EconWPA, revised 13 Jun 1997.
    3. Samuel S. Kortum & Jonathan Eaton & Brent Neiman & John Romalis, 2010. "Trade and the Global Recession," DEGIT Conference Papers, DEGIT, Dynamics, Economic Growth, and International Trade c015_002, DEGIT, Dynamics, Economic Growth, and International Trade.
    4. Serge Shikher, 2012. "Putting industries into the Eaton--Kortum model," The Journal of International Trade & Economic Development, Taylor & Francis Journals, Taylor & Francis Journals, vol. 21(6), pages 807-837, November.
    5. Robert Dekle & Jonathan Eaton & Samuel Kortum, 2008. "Global Rebalancing with Gravity: Measuring the Burden of Adjustment," NBER Working Papers 13846, National Bureau of Economic Research, Inc.
    6. Lorenzo Caliendo & Fernando Parro, 2012. "Estimates of the Trade and Welfare Effects of NAFTA," NBER Working Papers 18508, National Bureau of Economic Research, Inc.
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