On the Dynamics of Trade Reform

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On the Dynamics of Trade Reform

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Rui Albuquerque
Sergio Rebelo

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Abstract

The empirical evidence on trade reforms suggests that these have a surprisingly small impact on the country's industrial configuration. This industrial structure inertia is difficult to rationalize in standard trade models. This paper develops a two-sector industry dynamics model in which industrial composition inertia arises naturally. The model is then used to study the consequences of different types of trade reforms (e.g. permanent, temporary, gradual, pre-announced) on investment, employment composition, and income distribution.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 6700.

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Date of creation: Aug 1998
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Handle: RePEc:nbr:nberwo:6700

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Article
- Albuquerque, Rui & Rebelo, Sergio, 2000. "On the dynamics of trade reform," Journal of International Economics, Elsevier, vol. 51(1), pages 21-47, June. [Downloadable!] (restricted)

Find related papers by JEL classification:
F11 - International Economics - - Trade - - - Neoclassical Models of Trade

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Bacchetta, Philippe & Dellas, Harris, 1997. "Firm Restructuring and the Optimal Speed of Trade Reform," Oxford Economic Papers, Oxford University Press, vol. 49(2), pages 291-306, April. [Downloadable!] (restricted)
Ricardo J. Caballero, 1997. "Aggregate Investment," NBER Working Papers 6264, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Cabalero, R.J., 1997. "Aggregaete Investment," Working papers 97-20, Massachusetts Institute of Technology (MIT), Department of Economics.
- Caballero, Ricardo J., 1999. "Aggregate investment," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 12, pages 813-862 Elsevier. [Downloadable!] (restricted)
Ricardo J. Caballero & Eduardo M. R. A. Engel & John C. Haltiwanger, 1995. "Plant-Level Adjustment and Aggregate Investment Dynamics," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1995-2), pages 1-54. [Downloadable!]

Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Eva de Francisco, 2005. "Limited Participation, Income Distribution and Capital Account Liberalization," Computing in Economics and Finance 2005 454, Society for Computational Economics. [Downloadable!]
Ray Owens & Pierre-Daniel Sarte, 1999. "Analyzing firm location decisions : is public intervention justified?," Working Paper 99-08, Federal Reserve Bank of Richmond. [Downloadable!]
Other versions:
- Owens, Raymond E. & Sarte, Pierre-Daniel, 2002. "Analyzing firm location decisions: is public intervention justified?," Journal of Public Economics, Elsevier, vol. 86(2), pages 223-242, November. [Downloadable!] (restricted)
Dennis P.J. Botman & Alexander F. Tieman, 1999. "Trade Reform and Labor Market Dynamics," Tinbergen Institute Discussion Papers 99-054/1, Tinbergen Institute. [Downloadable!]
Alvaro Forteza & Rossana Patrón, 2001. "Trade liberalisation with costly adjustment," Documentos de Trabajo (working papers) 0901, Department of Economics - dECON. [Downloadable!]
Other versions:
- Alvaro Forteza & Rossana Patrón, 2003. "Trade Liberalisation with Costly Adjustment," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 95-125, May. [Downloadable!]
Rui Albuquerque, 2004. "The Composition of International Capital Flows: Risk Sharing Through Foreign Direct Investment," International Finance 0405004, EconWPA. [Downloadable!]
Other versions:
- Albuquerque, Rui, 2003. "The composition of international capital flows: risk sharing through foreign direct investment," Journal of International Economics, Elsevier, vol. 61(2), pages 353-383, December. [Downloadable!] (restricted)
Satu Nurmi, 2004. "Employment Dynamics and Openness to Trade in Finnish Manufacturing," Discussion Papers 956, The Research Institute of the Finnish Economy. [Downloadable!]
Andrew B. Bernard & J. Bradford Jensen, 2002. "The Deaths of Manufacturing Plants," NBER Working Papers 9026, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- J. Bradford Jensen & Andrew B Bernard, 2002. "The Deaths of Manufacturing Plants," Working Papers 02-15, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
Robert C. Tatum, 2005. "Sustaining Imperfectly Credible Trade Liberalization: Do the Rate of Tariff Reduction and the Degree of Labor Mobility Matter?," International Finance 0506007, EconWPA. [Downloadable!]
Other versions:
- Robert Tatum, 2005. "Sustaining imperfectly credible trade liberalization: Do the rate of tariff reduction and the degree of labour mobility matter?," Journal of International Trade & Economic Development, Taylor and Francis Journals, vol. 14(4), pages 407-435, December. [Downloadable!] (restricted)
George Alessandria & Alain Delacroix, 2007. "Trade and the (Dis)Incentive to Reform Labor Markets: The Case of Reform in the European Union," Cahiers de recherche 0738, CIRPEE. [Downloadable!]
Other versions:
- George Alessandria & Alain Delacroix, 2004. "Trade and the (dis)incentive to reform labor markets: the case of reform in the European Union," Working Papers 04-18, Federal Reserve Bank of Philadelphia. [Downloadable!]
- George Alessandria - Alain Delacroix, 2004. "Trade and the (Dis)Incentive to Reform Labor Markets: The Case of Reform in the European Union," Econometric Society 2004 North American Summer Meetings 233, Econometric Society. [Downloadable!]
- George Alessandria & Alain Delacroix, 2004. "Trade and the (Dis) Incentive to Reform Labor Markets: The Case of Reform in the European Union," 2004 Meeting Papers 460, Society for Economic Dynamics. [Downloadable!]
- Alessandria, George & Delacroix, Alain, 2008. "Trade and the (dis)incentive to reform labor markets: The case of reform in the European Union," Journal of International Economics, Elsevier, vol. 75(1), pages 151-166, May. [Downloadable!] (restricted)

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