GlobalizationandtheGainsfromVariety ChristianBroda(FRBNY) and DavidE.Weinstein(ColumbiaUniversityandNBER)* September2004 Abstract SincetheseminalworkofKrugman(1979),productvarietyhasplayedacentralroleinmodelsof tradeandgrowth.Inspiteofthegeneraluseoflove-of-varietymodels,therehasbeenno ...
NBER WORKING PAPER SERIES GLOBALIZATION AND THE GAINS FROM VARIETY Christian Broda David E. Weinstein Working Paper 10314 http://www.nber.org/papers/w10314 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2004 We would to thank Alan Deardorff, Robert ...
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Since the pioneering work of Krugman (1980) economists try to quantify the welfare gains from an increase in traded variety. The seminal work of Feenstra (1994) and its application to the U.S. of Broda and Weinstein (2006) allowed this quantification for the first time using highly disaggrega...
Broda, Christian, and David E. Weinstein. 2006. "Globalization and the Gains from Variety." Quarterly Journal of Economics 121:541-585. doi: http://dx.doi.org/10.1162/qjec.2006.121.2.541.Broda, C. and Weinstein, D., "Globalization and the Gains from Variety," Quarterly Journal of ...
Globalization and the Gains from Variety Mu Yi for excellent comments and suggestions. Rachel Polimeni provided us with outstanding research assistance. David Weinstein was at the Federal Reserve Bank of New York when most of this research was done. In addition, he would like t... CM Broda,DE...
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However, this occurrence has a positive and a negative side like any other. In the following paragraphs, I will discuss both the pros and cons of globalization and why I believe the gains are far greater than the losses. Body Paragraph 1 (Advantages) First of all, we must acknowledge the...
We use a Bertrand-Nash interpretation of the equilibrium that allows the elasticity of demand facing each variety to depend on the number of varieties, thus allowing the gains from globalization to reflect both the increase in variety and the exploitation of economies of scale. We also develop a...
Remember,economicsisthestudyofhowsocietiesproduceanddistributegoodsinanattempttosatisfythewantsandneedsofitsmembers.InterdependenceandtheGainsfromTrade Howdowesatisfyourwantsandneedsinaglobaleconomy?–Wecanbeeconomicallyself- sufficient.–Wecanspecializeandtrade withothers,leadingtoeconomicinterdependence.Interdependenceand...