New Trade Models, Same Old Gains?
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Costinot_New trade.pdf
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Author(s)
Arkolakis, Costas
Costinot, Arnaud
Rodríguez-Clare, Andrés
Date Issued
December 2010
Journal
American Economic Review
Publisher
American Economic Association
Citation
Arkolakis, Costas, Arnaud Costinot, and Andrés Rodríguez-Clare. "New Trade Models, Same Old Gains?" forthcoming in American Economic Review
Version
Author's final manuscript
Abstract
Micro-level data have had a profound infl uence on research in international trade over
the last ten years. In many regards, this research agenda has been very successful. New
stylized facts have been uncovered and new trade models have been developed to explain
these facts. In this paper we investigate to which extent answers to new micro-level
questions have affected answers to an old and central question in the field: How large are
the welfare gains from trade? A crude summary of our results is: So far, not much.
MIT Department
Massachusetts Institute of Technology. Department of Economics
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