Quantiles, corners, and the extensive margin of trade

Machado, José A. F.; Silva, João Santos; Wei, Kehai

doi:10.1016/j.euroecorev.2016.05.011

Cited by 5 publications

(2 citation statements)

References 78 publications

(101 reference statements)

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“…However, the standard asymptotic-variance formula or standard bootstrap methods to compute the estimators' standard errors are invalid. Instead, one could estimate clustered standard errors following the formulas of Machado, Santos Silva and Wei (2016). An alternative option would be to use the bootstrap method suggested by Abrevaya and Dahl (2008).…”

Section: Empirical Designmentioning

confidence: 99%

The Effects of Pension-Related Policies on Household Spending

Rodríguez

2019

SSRN Journal

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This paper estimates the impact of pension-related policies on household spending. The identifi cation strategy exploits the deviation in pensioner income and expenditure caused by the introduction of a new pension system during the 1980s and 1990s in Spain and constructs a new narrative series of legislated pension changes. I present a variety of estimates, some of them imply that increases in the average pension have a roughly one-for-one effect on pensioner spending. The strongest effects are on the pensioners with the highest levels of expenditure, income, and wealth. Estimates for different categories of expenditure indicate that benefi t increases trigger these pensioners to spend more on durables. At the same time, pension-related policies targeted to pensioners with low income levels seem to affect the spending on non-durables and necessities such as food positively.

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Section: Empirical Designmentioning

confidence: 99%

The Effects of Pension-Related Policies on Household Spending

Rodríguez

2019

SSRN Journal

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“…For more evidence on intensive and extensive margins, seeBaldwin and Di Nino (2006),Baldwin et al (2008),Bergin and Lin (2012),Flam and Nordström (2007), andMachado, Santos Silva, and Wei (2016).…”

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confidence: 99%

Currency Unions, Trade, and Heterogeneity

Chen

Novy

2018

SSRN Journal

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How do trade costs affect international trade? This paper offers a new approach. We rely on a flexible gravity equation that predicts variable trade cost elasticities, both across and within country pairs. We apply this framework to the effect of currency unions on international trade. While we estimate that currency unions are associated with a trade increase of around 38 percent on average, we find substantial underlying heterogeneity. Consistent with the predictions of our framework, we find effects around three times as strong for country pairs associated with small import shares, and a zero effect for large import shares. Our results imply that conventional homogeneous currency union estimates do not provide helpful guidance for countries considering to join a currency union. Instead, countries need to take into account the distribution of their trade shares to assess the impact of trade costs.

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