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DESCRIPTION:The Elasticity of Trade: Estimates and Evidence Ina Simonovska 
 joined University of California\, Davis as an Assistant Professor of Econo
 mics in Fall 2009. Professor Simonovska is also a Research Associate at NB
 ER\, CIPR at Vanderbilt University and Federal Reserve at Dallas. Her rese
 arch interests are in international trade\, international finance\, macroe
 conomics and industrial organization. Professor Simonovska received her B.
 A. in Economics and Finance from McGill University\, her M.A. and Ph.D. in
  Economics from the University of Minnesota. Quantitative results from a l
 arge class of structural gravity models of international trade depend crit
 ically on a single parameter governing the elasticity of trade with respec
 t to trade frictions. We provide a new method to estimate this elasticity 
 and illustrate the merits of our approach relative to the estimation strat
 egy of Eaton and Kortum (2002). We employ this method on data for 123 deve
 loped and developing countries for the year 2004 using new disaggregate pr
 ice and trade flow data. Our benchmark estimate for all countries is appro
 ximately 4.5\, nearly 50 percent lower than the alternative estimation str
 ategy would suggest. This difference implies a doubling of the measured we
 lfare costs of autarky across a large class of widely used trade models.
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SUMMARY:TDPE presents:Ina Simonovska
UID:RFCALITEM639146139509662708
X-ALT-DESC;FMTTYPE=text/html:The Elasticity of Trade: Estimates and Evidenc
 e Ina Simonovska joined University of California\, Davis as an Assistant P
 rofessor of Economics in Fall 2009. Professor Simonovska is also a Researc
 h Associate at NBER\, CIPR at Vanderbilt University and Federal Reserve at
  Dallas. Her research interests are in international trade\, international
  finance\, macroeconomics and industrial organization. Professor Simonovsk
 a received her B.A. in Economics and Finance from McGill University\, her 
 M.A. and Ph.D. in Economics from the University of Minnesota. Quantitative
  results from a large class of structural gravity models of international 
 trade depend critically on a single parameter governing the elasticity of 
 trade with respect to trade frictions. We provide a new method to estimate
  this elasticity and illustrate the merits of our approach relative to the
  estimation strategy of Eaton and Kortum (2002). We employ this method on 
 data for 123 developed and developing countries for the year 2004 using ne
 w disaggregate price and trade flow data. Our benchmark estimate for all c
 ountries is approximately 4.5\, nearly 50 percent lower than the alternati
 ve estimation strategy would suggest. This difference implies a doubling o
 f the measured welfare costs of autarky across a large class of widely use
 d trade models.
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