Journal article
THE COST OF TRADE DISRUPTIONS AT DIFFERENT STAGES OF DEVELOPMENT
Abstract
Abstract We study trade disruptions at different stages of development in a two‐country, three‐sector model of Spain and United Kingdom from 1850 to 2000. The impact of trade disruptions depends on trade openness and the productivity gap between countries. A trade collapse today (more openness, less gap) comparable to the Inter‐War Trade Collapse (IWTC) decreases the capital stock threefold (12% instead of 4%) and lifetime consumption fourfold …
Authors
Conesa JC; Delventhal MJ; Pujolas PS; Raveendranathan G
Journal
International Economic Review, Vol. 65, No. 3, pp. 1133–1161
Publisher
Wiley
Publication Date
August 2024
DOI
10.1111/iere.12690
ISSN
0020-6598