The variety and quality of a nation's trade

The variety and quality of a nation's trade
David Hummels, David Hummels
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Last edited by MARC Bot
December 13, 2020 | History

The variety and quality of a nation's trade

"Not surprisingly, big countries trade more than small countries. In this paper we use data on shipments by 110 exporters to 59 importers in 5,000 product categories to ask: how? Do big countries trade larger quantities of a common set of goods (the intensive margin), a larger set of goods (the extensive margin), or higher quality goods? We find that the extensive margin accounts for two-thirds of the greater exports of larger economies, and one-third of the greater imports of larger economies. Richer countries export more units at higher prices. These calculations are useful for distinguishing features of trade models that correspond more or less well to the data. Models with Armington national product differentiation do not feature the extensive margin, and wrongly predict that greater output will be accompanied by worse terms of trade. 'Krugman' style models with firm level product differentation fare better, but must be modified to include quality differentiation and fixed costs of trading to match all of the facts. Estimates based on these modifications imply that differences in goods' quality could be the proximate cause of about 25% of country differences in real income per worker"--National Bureau of Economic Research web site.

Publish Date
Language
English

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Cover of: The variety and quality of a nation's trade
The variety and quality of a nation's trade
2002, National Bureau of Economic Research
Electronic resource in English

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Edition Notes

Includes bibliographical references.
Title from PDF file as viewed on 3/3/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.

Published in
Cambridge, MA
Series
NBER working paper series ;, working paper 8712, Working paper series (National Bureau of Economic Research : Online) ;, working paper no. 8712.

Classifications

Library of Congress
HB1

The Physical Object

Format
Electronic resource

ID Numbers

Open Library
OL3477249M
LCCN
2005616917

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December 13, 2020 Edited by MARC Bot import existing book
July 29, 2012 Edited by VacuumBot Updated format '[electronic resource] /' to 'Electronic resource'
December 12, 2009 Edited by WorkBot link works
October 31, 2008 Edited by ImportBot add URIs from original MARC record
April 1, 2008 Created by an anonymous user Imported from Scriblio MARC record