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EconStor >
ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/18993
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Fazio, Giorgio | | en_US |
| dc.contributor.author | | MacDonald, Ronald | | en_US |
| dc.contributor.author | | Melitz, Jacques | | en_US |
| dc.coverage.temporal | | 1980-2000 | | en_US |
| dc.date.accessioned | | 2009-01-28T15:54:19Z | | - |
| dc.date.available | | 2009-01-28T15:54:19Z | | - |
| dc.date.issued | | 2005 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/18993 | | - |
| dc.description.abstract | | In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with the so-called home bias puzzle. Interestingly, this requires a fundamental revision of Obstfeld and Rogoff?s argument. A further novelty of our work is in tying bilateral trade behavior to desired aggregate trade balances and desired intertemporal trade. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | | | en_US |
| dc.relation.ispartofseries | | CESifo working papers 1529 | | en_US |
| dc.subject.jel | | F32 | | en_US |
| dc.subject.jel | | F10 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Feldstein-Horioka puzzle | | en_US |
| dc.subject.keyword | | trade costs | | en_US |
| dc.subject.keyword | | gravity model | | en_US |
| dc.subject.keyword | | home bias puzzle | | en_US |
| dc.subject.keyword | | current account | | en_US |
| dc.subject.keyword | | trade balance | | en_US |
| dc.subject.stw | | Sparen | | en_US |
| dc.subject.stw | | Investition | | en_US |
| dc.subject.stw | | Internationale Kapitalmobilität | | en_US |
| dc.subject.stw | | Außenwirtschaft | | en_US |
| dc.subject.stw | | Transaktionskosten | | en_US |
| dc.subject.stw | | Transportkosten | | en_US |
| dc.subject.stw | | Schätzung | | en_US |
| dc.subject.stw | | Gravitationsmodell | | en_US |
| dc.subject.stw | | Welt | | en_US |
| dc.title | | Trade costs, trade balances and current accounts : an application of gravity to multilateral trade | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 500838127 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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