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| Hummels, David. |
| International trade occurs in physical space and moving goods requires time. This paper examines the importance of time as a trade barrier, estimates the magnitude of time costs, and relates these to patterns of trade and the international organization of production. Estimates indicate that each additional day spent in transport reduces the probability that the US will source from that country by 1 1.5 percent. Conditional on exporting country, estimates directly identify a willingness-to-pay for time savings using variation across exporters and commodities in the relative price / speed tradeoff for air and ocean shipping. Each day saved in shipping time is worth 0.8 percent ad-valorem for manufactured goods. Relative declines over time in air shipping... |
| Tipo: Working or Discussion Paper |
Palavras-chave: International Relations/Trade. |
| Ano: 2001 |
URL: http://purl.umn.edu/28701 |
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| Hertel, Thomas W.; Hummels, David; Ivanic, Maros; Keeney, Roman. |
| With the proliferation of Free Trade Agreements (FTAs) over the past decade, demand for quantitative analysis of their likely impacts has surged. The main quantitative tool for performing such analysis is Computable General Equilibrium (CGE) modeling. Yet these models have been widely criticized for performing poorly (Kehoe, 2002) and having weak econometric foundations (McKitrick, 1998; Jorgenson, 1984). FTA results have been shown to be particularly sensitive to the trade elasticities, with small trade elasticities generating large terms of trade effects and relatively modest efficiency gains, whereas large trade elasticities lead to the opposite result. Critics are understandably wary of results being determined largely by the authors' choice of trade... |
| Tipo: Working or Discussion Paper |
Palavras-chave: International Relations/Trade. |
| Ano: 2003 |
URL: http://purl.umn.edu/28690 |
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