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"DOMESTIC TRADE"
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The ongoing Columbian exchange : stories of biological and economic transfer in world history
\"This unique encyclopedia enables students to understand the myriad ways that the Columbian Exchange shaped the modern world, covering every major living organism from pathogens and plants to insects and mammals\"-- Provided by publisher.
Book
Multilateral Trade Liberalization and Government Revenue
This paper contributes to the impact of domestic trade liberalization on government revenue by examining whether multilateral trade policy liberalization is important for government revenue. Our empirical analysis uses a panel dataset covering 169 countries from 1995 to 2013 to provide evidence that multilateral trade policy liberalization does have a positive impact on government revenue. However, this impact appears to be dependent upon both countries' level of development and their level of domestic trade policy liberalization. This finding highlights the importance for members of the World Trade Organization to promote multilateral trade liberalization. Further, restrictive domestic trade policies, which could undermine multilateralization efforts, will ultimately weaken the positive impact of multilateral trade liberalization on government revenues.
Journal Article
New Trade Models, New Welfare Implications
We show that endogenous firm selection provides a new welfare margin for heterogeneous firm models of trade (relative to homogeneous firm models). Under some parameter restrictions, the trade elasticity is constant and is a sufficient statistic for welfare, along with the domestic trade share. However, even small deviations from these restrictions imply that trade elasticities are variable and differ across markets and levels of trade costs. In this more general setting, the domestic trade share and endogenous trade elasticity are no longer sufficient statistics for welfare. Additional empirically observable moments of the micro structure also matter for welfare.
Journal Article
Economic Sanctions
Taking an interdisciplinary perspective, we examine the evolution of economic sanctions in the post-World War II era and reflect on the lessons that could be drawn from their features and patterns of use. We observe that, during this time, there has been a remarkable increase in the use of sanctions as an instrument of foreign policy. We classify this period into four 'eras' and discuss, in this context, how the evolution of sanctions may be linked to salient features of the contemporaneous international political and economic orders. Our review of the related literatures in economics and political science suggests, among other things, that our understanding of sanction processes could be significantly advanced by marrying these perspectives. We conclude by identifying several questions and challenges, and by discussing how interdisciplinary research could address them.
Journal Article
Is the WTO Passé?
The WTO has delivered policy outcomes that are very different from those likely to emerge out of the recent wave of preferential trade agreements (PTAs). Should economists see this as an efficient institutional hand-off, where the WTO has carried trade liberalization as far as it can manage, and is now passing the baton to PTAs to finish the job? We survey a growing economics literature on international trade agreements and argue on this basis that the WTO is not passé. Rather, and subject to some caveats, our survey of research to date suggests that the WTO warrants strong support while a more cautious view of PTAs seems appropriate.
Journal Article
Rough Trade: Animal Welfare in the Global Wildlife Trade
Wildlife trade is a big and burgeoning business, but its welfare impacts have not been studied comprehensively. We review the animal welfare impacts of the wildlife trade as they were reported in the literature between 2006 and 2011. Rarely was the term welfare mentioned, evidence of welfare impact documented, or welfare improvement recommended. Literature focused on mammals and on animals killed on site, for luxury goods or food, and for traditional medicine. Welfare impacts may be underreported, particularly in international, illegal, and wild-caught trade and trade in reptiles. Greater attention should perhaps be paid to the welfare of animals traded alive and in larger numbers (e.g., birds, reptiles, amphibians) and to those—including mammals—potentially subject to greater impacts through live use (e.g., as pets). More evidence-based research is needed. Animal welfare should be integrated with wider issues; collaboration between conservationists and welfarists and the development of health and welfare levers to influence trade offer benefits to both people and wildlife.
Journal Article
Welfare and Trade without Pareto
Quantifications of gains from trade in heterogeneous firm models assume that productivity is Pareto distributed. Replacing this assumption with log-normal heterogeneity retains some useful Pareto features, while providing a substantially better fit to sales distributions-especially in the left tail. The cost of log-normal is that gains from trade depend on the method of calibrating the fixed cost and productivity distribution parameters. When set to match the size distribution of firm sales in a given market, the log-normal assumption delivers gains from trade in a symmetric two-country model that can be twice as large as under the Pareto assumption.
Journal Article
Africa's silk road : China and India's new economic frontier
New horizons are opening for Africa, with a growing number of Chinese andIndian businesses fostering its integration into advanced markets. However,significant imbalances will have to be addressed on both sides of the equation to support long-term growth.
eBook
The US Gains From Trade
About eight cents out of every dollar spent in the United States is spent on imports. What if, because of a wall or some other extreme policy intervention, imports were to remain on the other side of the US border? How much would US consumers be willing to pay to prevent this hypothetical policy change from taking place? The answer to this question represents the welfare cost from autarky or, equivalently, the welfare gains from trade. In this article, we discuss how to evaluate these gains using estimates of the demand for foreign factor services.
Journal Article