Distance, Time and Specialization
Time is money, and distance matters. We model the interaction of these truisms, and show the implications for global specialization and trade: products where timely delivery is important will be produced near the source of final demand, where wages will be higher as a result. In the model, timely delivery is important because it allows retailers to respond to fluctuating final demand without holding costly inventories, and timely delivery is only possible from nearby locations. Using a unique dataset that allows us to measure the retail demand for timely delivery, we show that the sources of US apparel imports have shifted in the way predicted by the model, with products where timeliness matters increasingly imported from nearby countries.
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|Date of creation:||11 Aug 2004|
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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.:
- Redding, Stephen J. & Venables, Anthony J, 2000.
"Economic Geography and International Inequality,"
CEPR Discussion Papers
2568, C.E.P.R. Discussion Papers.
- Stephen Redding & Anthony J. Venables, 2001. "Economic Geography and International Inequality," International Trade 0103003, EconWPA.
- Stephen Redding & Anthony J. Venables, 2001. "Economic Geography and International Inequality," CEP Discussion Papers dp0495, Centre for Economic Performance, LSE.
- Stephen Redding & Anthony J. Venables, 2001. "Economic geography and international inequality," LSE Research Online Documents on Economics 3714, London School of Economics and Political Science, LSE Library.
- David Hummels & Georg Schaur, 2012.
"Time as a Trade Barrier,"
NBER Working Papers
17758, National Bureau of Economic Research, Inc.
- Alan V. Deardorff, 2014.
"Local comparative advantage: Trade costs and the pattern of trade,"
International Journal of Economic Theory,
The International Society for Economic Theory, vol. 10(1), pages 9-35, 03.
- Alan V Deardorff, 2004. "Local Comparative Advantage: Trade Costs and the Pattern of Trade," Working Papers 500, Research Seminar in International Economics, University of Michigan.
- Anthony Venables, 2001.
"Geography and International Inequalities: The Impact of New Technologies,"
Journal of Industry, Competition and Trade,
Springer, vol. 1(2), pages 135-159, June.
- Anthony J. Venables, 2001. "Geography and International Inequalities: the Impact of New Technologies," CEP Discussion Papers dp0507, Centre for Economic Performance, LSE.
- Masahisa Fujita & Paul Krugman & Anthony J. Venables, 2001. "The Spatial Economy: Cities, Regions, and International Trade," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262561476, March.
- Steven J. Davis & John C. Haltiwanger & Scott Schuh, 1998. "Job Creation and Destruction," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262540932, March.
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