The Long and Short (Run) of Trade Elasticities
نویسندگان
چکیده
When countries change most favored nation (MFN) tariffs, partners that trade on MFN terms experience plausibly exogenous tariff changes. Using this variation, we estimate the elasticity at short and long horizons with local projections. We find of tariff-exclusive flows is ?0.76 in run, approximately ?2 run. Our long-run estimates are smaller than typical literature, it takes 7 to10 years to converge implying (i) welfare gains from high (ii) there substantial convexities costs adjusting exports. (JEL C51, F13, F14)
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ژورنال
عنوان ژورنال: The American Economic Review
سال: 2023
ISSN: ['2640-205X', '2640-2068']
DOI: https://doi.org/10.1257/aer.20210225