Replication data for: Estimating Trade Elasticities: Demand Composition and the Trade Collapse of 2008-2009

Principal Investigator(s): View help for Principal Investigator(s) Matthieu Bussière; Giovanni Callegari; Fabio Ghironi; Giulia Sestieri; Norihiko Yamano

Version: View help for Version V1

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Project Citation:

Bussière, Matthieu, Callegari, Giovanni, Ghironi, Fabio, Sestieri, Giulia, and Yamano, Norihiko. Replication data for: Estimating Trade Elasticities: Demand Composition and the Trade Collapse of 2008-2009. Nashville, TN: American Economic Association [publisher], 2013. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114272V1

Project Description

Summary: This paper introduces a new empirical model of international trade flows based on an import intensity-adjusted measure of aggregate demand. We compute the import intensity of demand components by using the OECD Input-Output tables. We argue that the composition of demand plays a key role in trade dynamics because of the relatively larger movements in the most import-intensive categories of expenditure (especially investment, but also exports). We provide evidence in favor of these mechanisms for a panel of 18 OECD countries, paying particular attention to the 2008-2009 Great Trade Collapse.

Scope of Project

JEL Classification:
      E23 Macroeconomics: Production
      F14 Empirical Studies of Trade
      F17 Trade: Forecasting and Simulation
      F44 International Business Cycles
      G01 Financial Crises

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V1 [2019-10-12]

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