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  • 标题:A Test of Trade Theories when Expenditure is Home Biased
  • 本地全文:下载
  • 作者:Marius Brülhart ; Federico Trionfetti
  • 期刊名称:DEEP Cahiers de Recherches Économiques / Université de Lausanne
  • 出版年度:2001
  • 出版社:Université de Lausanne
  • 摘要:We develop and apply a criterion to distinguish two paradigms of international trade theory: constant-returns perfectly competitive models, and increasing-returns monopolistically competitive models. Our analysis makes use of the pervasive presence of home-biased expenditure. It predicts that countries' relative output and their relative home biases are positively correlated in increasing-returns sectors, while no such relationship exists in constant-returns sectors. We estimate country-level sectoral home biases through a gravity equation for international and intranational trade, and we use those estimates to implement our test on input-output data for six European Union economies
  • 关键词:international specialisation; new trade theory; home-market effects; border effects
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