Intranational Home Bias: Some Explanations
用改进的数据重新检验美国国内贸易受州界阻碍的现象,发现批发活动能解释大部分国内本土偏好,控制相对价格和实际运输距离后估计值降低。
Wolf (2000) demonstrates that trade within the U.S. appears substantially impeded by state borders. We revisit this finding with improved data. We show that much intra-national home bias can be explained by wholesaling activity. Shipments by wholesalers are much more localized within states than shipments from manufacturing establishments. Controlling for relative prices and the use of actual, rather than imputed, shipment distances also reduces home bias estimates.