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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 what extent answers to new micro-level questions have affected answers to an old and central question in the field: how large are the welfare gains from trade? A crude summary of our results is: "So far, not much." (JEL F11, F12)

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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
Contact details of provider: Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
Fax: 1-314-444-8731
Web page: http://www.EconomicDynamics.org/society.htm
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