Dear All,
I am pleased to invite you to another Empirical Seminar of the Institute of Economic Research of Slovak Academy of Sciences, this time from the field of international trade. The invitation has been accepted by Richard Frensch (Leibniz Institute for East and Southeast European Studies (IOS), Regensburg, Germany), who will present his research analysing the historical patterns in evolution of international trade costs.
Date: June 21, 2023 (Wednesday), 10.00 a.m.
See abstract below. The workshop will be organized in a hybrid form - for those interested, the speaker and a couple of discussants will be present in the library of our Institute.
If you know of anyone who might be interested in this topic, please forward this information on.
I look forward to the discussion.
Mária Širaňová
AUTHOR: Richard Frensch (speaker)
TITLE: History, globalization, and time-varying bilateral trade cost terms in gravity
ABSTRACT: The presentation discusses the bilateral trade cost (terms) in gravity equations. Estimated bilateral trade cost terms are typically time-invariant in empirical gravity regressions. We consider trade cost terms that change over time. This yields two results: (1) We identify contemporary against total trade cost, enabling us to conclude on historical trade cost, i.e., trade cost as historical legacy. (2) We offer a natural illustration to globalization - international trade cost are less persistent than domestic trade cost.