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DESCRIPTION:The authors study how the transitions following a trade reform 
 are shaped by the time it takes for new exporters to grow in the export ma
 rket. They introduce time and risk into the fixed-variable cost tradeoff c
 entral to general equilibrium heterogeneous firm trade models: Investing i
 n exporting gradually and stochastically lowers the costs of exporting. Th
 e authors show that the gains from reducing tariffs arise from substitutin
 g away from firm creation and towards export capacity. They calibrate thei
 r model and estimate the welfare gains from reducing tariffs\, which diffe
 r substantially from the long-run changes in consumption or trade. George 
 Alessandria is a Professor of Economics at the University of Rochester. Hi
 s research interests lie in the area of macroeconomics and monetary trade.
  He has published papers in AER\, QJE\, JIE\, AEJ:Macro\, JME\, etc.&nbsp\
 ; For more information\,\ncontact Devashish Mitra\, dmitra@syr.edu Sponsor
 ed by:\nTrade\, Development and Political Economy\, Moynihan Institute of 
 Global Affairs&nbsp\;
DTEND:20181203T230000Z
DTSTAMP:20260512T125025Z
DTSTART:20181203T210000Z
LOCATION:
SEQUENCE:0
SUMMARY:Trade Adjustment Dynamics and the Welfare Gains from Trade - TDPE
UID:RFCALITEM639141726259244893
X-ALT-DESC;FMTTYPE=text/html:<p>The authors study how the transitions follo
 wing a trade reform are shaped by the time it takes for new exporters to g
 row in the export market. They introduce time and risk into the fixed-vari
 able cost tradeoff central to general equilibrium heterogeneous firm trade
  models: Investing in exporting gradually and stochastically lowers the co
 sts of exporting. The authors show that the gains from reducing tariffs ar
 ise from substituting away from firm creation and towards export capacity.
  They calibrate their model and estimate the welfare gains from reducing t
 ariffs\, which differ substantially from the long-run changes in consumpti
 on or trade. </p><p><br></p><p><b>George Alessandria </b>is a Professor of
  Economics at the University of Rochester. His research interests lie in t
 he area of macroeconomics and monetary trade. He has published papers in A
 ER\, QJE\, JIE\, AEJ:Macro\, JME\, etc.&nbsp\; </p><p>For more information
 \,\ncontact Devashish Mitra\, <a>dmitra@syr.edu</a> <br><br>Sponsored by:\
 nTrade\, Development and Political Economy\, Moynihan Institute of Global 
 Affairs&nbsp\;</p>
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