Trade costs, trade balances and current accounts: an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005
In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with the s...
Gespeichert in:
| Beteiligte Personen: | , , |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Munich
CES
2005
Munich Ifo |
| Schriftenreihe: | CESifo working papers
1529 : Category 5, Fiscal policy, macroeconomics and growth |
| Schlagwörter: | |
| Zusammenfassung: | In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with the so-called home bias puzzle. Interestingly, this requires a fundamental revision of Obstfeld and Rogoff’s argument. A further novelty of our work is in tying bilateral trade behavior to desired aggregate trade balances and desired intertemporal trade. |
| Beschreibung: | Literaturverz. S. 25 - 27. - Auch im Internet unter den Adressen www.SSRN.com und www.CESifo-group.de verfügbar |
| Umfang: | 37 S. graph. Darst. 21 cm |
Internformat
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| 245 | 1 | 0 | |a Trade costs, trade balances and current accounts |b an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005 |c Giorgio Fazio ; Ronald MacDonald ; Jacques Mélitz. Center for Economic Studies & Ifo Institute for Economic Research |
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| 490 | 1 | |a CESifo working papers |v 1529 : Category 5, Fiscal policy, macroeconomics and growth | |
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| 520 | 8 | |a In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with the so-called home bias puzzle. Interestingly, this requires a fundamental revision of Obstfeld and Rogoff’s argument. A further novelty of our work is in tying bilateral trade behavior to desired aggregate trade balances and desired intertemporal trade. | |
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| genre | (DE-588)1071861417 Konferenzschrift gnd-content |
| genre_facet | Konferenzschrift |
| id | DE-604.BV021272956 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T12:32:07Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-014594050 |
| oclc_num | 255272414 |
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| owner_facet | DE-12 DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-521 |
| physical | 37 S. graph. Darst. 21 cm |
| publishDate | 2005 |
| publishDateSearch | 2005 |
| publishDateSort | 2005 |
| publisher | CES Ifo |
| record_format | marc |
| series | CESifo working papers |
| series2 | CESifo working papers |
| spelling | Fazio, Giorgio Verfasser aut Trade costs, trade balances and current accounts an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005 Giorgio Fazio ; Ronald MacDonald ; Jacques Mélitz. Center for Economic Studies & Ifo Institute for Economic Research Munich CES 2005 Munich Ifo 37 S. graph. Darst. 21 cm txt rdacontent n rdamedia nc rdacarrier CESifo working papers 1529 : Category 5, Fiscal policy, macroeconomics and growth Literaturverz. S. 25 - 27. - Auch im Internet unter den Adressen www.SSRN.com und www.CESifo-group.de verfügbar In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with the so-called home bias puzzle. Interestingly, this requires a fundamental revision of Obstfeld and Rogoff’s argument. A further novelty of our work is in tying bilateral trade behavior to desired aggregate trade balances and desired intertemporal trade. (DE-588)1071861417 Konferenzschrift gnd-content MacDonald, Ronald 1955- Verfasser (DE-588)126262268 aut Mélitz, Jacques Verfasser (DE-588)114656290 aut CESifo working papers 1529 : Category 5, Fiscal policy, macroeconomics and growth (DE-604)BV013978326 1529 |
| spellingShingle | Fazio, Giorgio MacDonald, Ronald 1955- Mélitz, Jacques Trade costs, trade balances and current accounts an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005 CESifo working papers |
| subject_GND | (DE-588)1071861417 |
| title | Trade costs, trade balances and current accounts an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005 |
| title_auth | Trade costs, trade balances and current accounts an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005 |
| title_exact_search | Trade costs, trade balances and current accounts an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005 |
| title_full | Trade costs, trade balances and current accounts an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005 Giorgio Fazio ; Ronald MacDonald ; Jacques Mélitz. Center for Economic Studies & Ifo Institute for Economic Research |
| title_fullStr | Trade costs, trade balances and current accounts an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005 Giorgio Fazio ; Ronald MacDonald ; Jacques Mélitz. Center for Economic Studies & Ifo Institute for Economic Research |
| title_full_unstemmed | Trade costs, trade balances and current accounts an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005 Giorgio Fazio ; Ronald MacDonald ; Jacques Mélitz. Center for Economic Studies & Ifo Institute for Economic Research |
| title_short | Trade costs, trade balances and current accounts |
| title_sort | trade costs trade balances and current accounts an application of gravity to multilateral trade presented at cesifo area conference on macro money international finance february 2005 |
| title_sub | an application of gravity to multilateral trade ; presented at CESifo area conference on macro, money & International finance, February 2005 |
| topic_facet | Konferenzschrift |
| volume_link | (DE-604)BV013978326 |
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