Transitional Growth and Trade with Frictions: A Structural Estimation Framework
构建并估计了一个多国模型，将引力模型与资本积累机制结合，分析贸易自由化如何通过动态路径乘数放大静态收益，对研究贸易与增长关系的学者有参考价值。
Abstract We build and estimate a structural model of transitional growth and trade in a many-country world. The gravity model of trade is combined with a capital accumulation mechanism driving transition between steady states. Trade affects growth through changes in consumer and producer prices. Simultaneously, capital accumulation affects trade directly through changes in country size and indirectly through changes in the incidence of trade costs. Theory maps to an econometric system that identifies the parameters of the model and establishes causal links between trade, capital accumulation and income. Counterfactual trade liberalisation magnifies static gains by a dynamic path multiplier of 1.8.