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New Trade Models, Same Old Gains?

  • Arnaud Costinot

    (MIT)

  • Andres Rodriguez-Clare

    (Penn State)

  • Costas Arkolakis

    (Yale University)

Micro-level data have had a profound influence on research in international trade over the last ten years. In many regards, this research agenda has been very successful. New stylized facts have been uncovered and new trade models have been developed to explain these facts. In this paper we investigate to which extent answers to new micro-level questions have affected answers to an old and central question in the field: How large are the gains from trade? A crude summary of our results is: "So far, not much."

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Paper provided by Society for Economic Dynamics in its series 2010 Meeting Papers with number 433.

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Date of creation: 2010
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Handle: RePEc:red:sed010:433
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Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA

Web page: http://www.EconomicDynamics.org/
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