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• Extensive Margin: trade is less costly, so more ﬁrms trade, more goods are traded. These notes focus on three important papers about the extensive margin of adjustment following trade liberalization: Eaton, Kortum, and Kramarz () ECMA, “An Anatomy of International Trade: Evidence from French Firms” – Helpman, Melitz, and Rubinstein () QJE, “Trading Partners and Trading Volumes” – File Size: KB. 05/03/ · In this context, extensive margin refers to whether a trading relationship exists, whereas intensive margin refers to how much is actually traded in that trading relationship. Economists can then use these terms to discuss whether changes in the volume of imports and exports are due to chenges in extensive margin or intensive wahre-wahrheit.deted Reading Time: 3 mins. 01/03/ · Alessandria and Choi ()report that the extensive margin of exports is times as volatile as GDP for the United States, and Naknoi ()reports that the extensive margin of exports to the United States is three times more volatile than the GDP of exporting wahre-wahrheit.de by: 3. 01/10/ · The last decade has seen a rapid increase in the attention devoted to the study of the extensive margin of trade. 18 There are several reasons for this. First, it has been recognized that the extensive margin has had a substantial contribution to the expansion of international trade (see, e.g., Hummels and Klenow, , Kehoe and Ruhl, ).Cited by: 1.
To browse Academia. Log In with Facebook Log In with Google Sign Up with Apple. Remember me on this computer. Enter the email address you signed up with and we’ll email you a reset link. Need an account? Click here to sign up. Download Free PDF. Expansion of trade at the extensive margin: A general gains-from-trade result and illustrative examples Journal of International Economics, James Markusen.
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This chapter presents a global computable general equilibrium model with firm heterogeneity based on the Melitz framework and examines the relative importance of the intensive and extensive margins in the trade expansion following trade liberalization. Using a set of plausible parameters values suggested by empirical studies and calibrating the model to the recent Global Trade Analysis Project GTAP global database, our illustrative simulations indicate that the extensive margin accounts for around one-third of the trade growth induced by a reduction in tariffs or variable trade costs.
In the case of reducing fixed trade costs, the extensive margin contributes almost percent of the trade expansion, with the intensive margin contributing negatively to trade growth. Zhai, F. New Developments in Computable General Equilibrium Analysis for Trade Policy Frontiers of Economics and Globalization, Vol. Emerald Group Publishing Limited. Report bugs here. Please share your general feedback. You can join in the discussion by joining the community or logging in here.
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The Melitz model highlights the importance of the extensive margin the number of firms exporting for trade flows. This benchmark model predicts that, conditional on the fixed costs of exporting, all variation in exports across trading partners should occur on the extensive margin. We find that moving from a Pareto to a lognormal distribution allows the Melitz model to match the role of the intensive margin in the EDD. We use likelihood methods and the EDD to estimate a generalized Melitz model with a joint lognormal distribution for firm-level productivity, fixed costs and demand shifters, and use „exact hat algebra“ to quantify the effects of a decline in trade costs on trade flows and welfare in the estimated model.
The welfare effects turn out to be quite close to those in the standard Melitz-Pareto model when we choose the Pareto shape parameter to fit the average trade elasticity implied by our estimated Melitz-lognormal model, although there are significant differences regarding the effects on trade flows. We are grateful to Arnaud Costinot, Caroline Freund, Cecile Gaubert, Keith Head, Sam Kortum, Thierry Mayer, Eduardo Morales and Jesse Perla for useful discussions, to seminar participants at various institutions, and to Matthias Hoelzlein and Nick Sander for outstanding research assistance.
The World Bank provided access to the Exporter Dynamics Database. Research for this paper has in part been supported by the World Bank’s Multidonor Trust Fund for Trade and Development and the Strategic Research Program on Economic Development, as well as the Stanford Institute for Economic Policy Research. The findings expressed in this paper are those of the authors and do not necessarily represent the views of the World Bank or its member countries, not those of the IMF, its Executive Board, or its management, nor those of the National Bureau of Economic Research.
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Households in the rich North poor South are willing to pay high low prices for consumer goods; hence, unconstrained monopoly pricing generates arbitrage opportunities for internationally traded products. Export zeros arise because some northern firms abstain from exporting to the South, to avoid international arbitrage. Rich countries benefit from a trade liberalization, while poor countries lose.
These results hold also under more general preferences with both extensive and intensive consumption margins. We show that a standard calibrated trade model that ignores arbitrage generates predictions on relative prices that violate no-arbitrage constraints in many bilateral trade relations. This suggests that international arbitrage is potentially important. Most users should sign in with their email address.
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Industrial characteristics, the size of countries, and the extensive margin of trade. This Dissertation is brought to you for free and open access by Economics at CU Scholar. For more information, please contactcuscholaradmin colorado. Nguyen, Ha Manh, „Industrial characteristics, the size of countries, and the extensive margin of trade“ Paper A thesis submitted to the Faculty of the Graduate School of the University of Colorado in partial fulfillment.
Industrial characteristics, the size of countries, and the extensive margin of trade written by Ha Manh Nguyen. The final copy of this thesis has been examined by the signatories, and we find that both the content and the form meet acceptable presentation standards of scholarly work in the above. Industrial characteristics, the size of countries, and the extensive margin of trade Thesis directed by Prof.
Robert McNown. This dissertation consists of three chapters exploring some issues in International Trade. Chapter 1 explains how home-market effects change across industries in a model of monopolistic competition with heterogeneous firms. The home-market effect hypothesis Krugman states that a large country has more firms or products in an increasing return sector than does a small country.
This chapter builds a model of monopolistic competition with heterogeneous firms to investigate which industry characteristics have effects on that change.
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Extensive margin refers to the range to which a resource is utilized or applied. For example, the number of people working is one measure that falls under the heading of extensive margin. By this definition, you can roughly categorize extensive margin as how many resources are employed as opposed to how hard intensively, even they are employed. This distinction is important because it helps to separate and categorize changes in resource usage.
In other words, if more of a resource is used, it’s helpful to understand whether this increase is because more resources are put to work i. Understanding this distinction likely has consequences for proper policy response. It’s also helpful to note that such a change is often due to a combination of changes in extensive and intensive margin. In a slightly different interpretation, extensive margin can be thought of as, for example, number of hours worked, whereas intensive margin in this interpretation would refer to the level of effort exerted.
As it relates to the production function, extensive margin and intensive margin can be thought of as substitutes to some degree- in other words, one could produce more output by either working longer extensive margin or working harder or more efficiently intensive margin. This distinction can also be seen by looking at a production function directly:. Here, changes in L amount of labor count as changes in extensive margin and changes in e effort count as changes in intensive margin.
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Thanks for helping us catch any problems with articles on DeepDyve. We’ll do our best to fix them. Check all that apply – Please note that only the first page is available if you have not selected a reading option after clicking „Read Article“. Include any more information that will help us locate the issue and fix it faster for you. We quantify the role of the extensive margin in the recent trade dynamics of selected countries that are running large and persistent trade imbalances.
We find that the role of the extensive margin is quite substantial, although it varies in significance across the countries in the sample. Economic Notes — Wiley. Continue with Facebook. Sign up with Google. Log in with Microsoft. Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
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Naturally, the econometric methods used in the estimation of models for the extensivemargin of trade depend on the level of aggregation that is considered and on the natureof the data available. For example, Berthou and Fontagné (), Baldwin and DiNino (), and Helpman, Melitz, and Rubinstein () use binary models to studywhether a rm, a sector, or a country exports, while . IntroductionIn a landmark paper, Hummels and Klenow () drew attention to the role of the extensive margin in explaining observed international trade patterns, giving origin to a burgeoning literature on its determinants and importance. 1 Building on Melitz’s () model with heterogeneous rms, Helpman, Melitz, and Rubinstein () and Chaney (), among others, developed trade.
To browse Academia. Log In with Facebook Log In with Google Sign Up with Apple. Remember me on this computer. Enter the email address you signed up with and we’ll email you a reset link. Need an account? Click here to sign up. Download Free PDF. Exploring the Intensive and Extensive Margins of World Trade Review of World Economics, Gabriel Felbermayr.
Wilhelm Kohler. Download PDF Download Full PDF Package This paper. A short summary of this paper. Exploring the Intensive and Extensive Margins of World Trade. Exploring the Intensive and Extensive Margins of World Trade Gabriel J.