【主讲】Dennis Novy 副教授 (University of Warwick)
【主题】International Trade without CES: Estimating Translog Gravity
【时间】2012年5月24日 (周四) 10：00-11：30
【地点】上海财经大学经济学院楼801室
【语言】英文
【摘要】This paper derives a micro-founded gravity equation based on a translog demand system that allows for flexible substitution patterns across goods. In contrast to the standard CES-based gravity equation, translog gravity generates an endogenous trade cost elasticity. Trade is more sensitive to trade costs if the exporting country only provides a small share of the destination country’s imports. As a result, trade costs have a heterogeneous impact across country pairs, with some trade flows predicted to be zero. I test the translog gravity equation and find empirical evidence consistent with its predictions.
