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Erschienen in:
2017 | OriginalPaper | Buchkapitel
17. 200 Years of Ricardian Theory: The Missing Dynamics
verfasst von : Esteban Rossi-Hansberg
Erschienen in: 200 Years of Ricardian Trade Theory
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Abstract
In recent years, trade economists have started to incorporate dynamics in international trade models, using frameworks that are at their core Ricardian. Using a quantitative model to estimate the effect of dynamic knowledge innovation, I argue that reducing trade barriers leads to large gains from trade as a result of these dynamics. I illustrate these effects with a quantification of the impact of trade barrier reduction between Latin American countries. Productivity levels and their distribution in space are estimated to be much greater when including the dynamic effects that result from the trade liberalization.