@yotoyotov
Professor of Economics, Drexel. Research Professor, ifo Institut. Senior Associate Editor, Economics Letters, Associate Editor, Review of Int'l Economics. Member of the CEA of Bulgaria ๐ง๐ฌ. Gravity rules ๐ช https://yotoyotov.com/
Gravity treatments with entry & exit. We combine the latest DiD estimators for treatments with exit with structural gravity methods to evaluate the impact of sanctions on trade, when they are in place and when they are lifted. Methods matter!
ideas.repec.org/p/drx/wpaper...
Aufhebung der EU-Sanktionen wรผrde Irans BIP langfristig um mehr als 80% steigern. Gleichzeitig kรถnnte BIP in EU & AT um 0,3% bzw. 0,5% wachsen. @gfelbermayr.bsky.social @heiderkariem.bsky.social @mghodsi.bsky.social #RobertStehrer @wiiw.ac.at @yotoyotov.bsky.social fรผr @insm.de buff.ly/Jg5aELp
The figure plots TCP tariffs against import-weighted average tariffs for US sectors. The US is one of the countries with TCP indexes that are mostly larger than the corresponding import-weighted tariffs. This reflects the overall trade deficit. Effective tariff index comparisons are spotlighted in media reports on trade wars and trade talks. This column argues that the effective tariff index is inadequate for cross-country comparisons of tariff heights and misleads public opinion and policymakers. The authors propose instead a True Cost of Protection index that captures the indirect effects of all countriesโ tariffs and separates the impact on buyers and sellers, providing better guidance for trade negotiations or disputes.
James E Anderson & @yotoyotov.bsky.social propose a True Cost of Protection index that captures the indirect effects of all countries' #tariffs and separates the impact for buyers and sellers, providing better guidance for trade negotiations or disputes.
cepr.org/voxeu/column...
#EconSky
Very grateful to Mario Larch & Ohyun Kwon for the Python code for the "Gravity for Undergrads" Guide:
yotoyotov.com/Gravity_Unde...
Many thanks to Jaerim Choi & Ohyun Kwon for translating the Guide in Korean:
ideas.repec.org/p/drx/wpaper...
Gravity rules ๐ช
Our paper "Should we stay or should we go?" has been nominated for the ONS Peopleโs Choice Award!
Shall we win it or shall we lose? Totally up to you - but hereโs the link to vote ๐
forms.office.com/pages/respon...
Muy contento de compartir el capรญtulo "Gravity for Undergrads" en espaรฑol. Muchas gracias a los profesores Carril-Caccia y Paniagua (
@jordipaniagua.bsky.social
โฌ), que se ofrecieron voluntariamente a aportar este bien pรบblico al alumnado hispanohablante. ๐ช
ideas.repec.org/p/drx/wpaper...
ๅพ้ซๅ
ดๅๅคงๅฎถๅไบซไธญๆ็็ใๅ็ปๅคงๅญฆ็็่ดธๆๅผๅๆจกๅใ๏ผ้ๅธธๆ่ฐขๆฌไบ้กฏ
@Ekwonomist
ๅไฝๆทผๆฐๆๆ็็ฟป่ฏๅทฅไฝ๏ผ่ฎฉๆดๅคไธญๅฝๅญฆ็ๅ็ใๅธๆๅฏนๅคงๅฎถๆๆๅธฎๅฉใๅผๅไธๅฒ๏ผ๐ช
ideas.repec.org/p/drx/wpaper...
ใๅญฆ้จ็ใฎใใใฎ้ๅใขใใซใใๆฅๆฌ่ชใงๅ
ฑๆใงใใฆใจใฆใๅฌใใๆใใพใ๏ผใ
ใฎๅ
ฌๅ
ฑ่ฒกใๆฅๆฌใฎๅญฆ็ใฎใใใซๆไพใใฆใใใๆฟๅๆๆใๆจ่กๅใๅ
็ฐๆๆใซๅฟ
ใใๆ่ฌใใพใใใฟใชใใใฎใๅฝนใซ็ซใฆใใฐๅนธใใงใใ้ๅใขใใซๆ้ซ๏ผ๐ช
ideas.repec.org/p/drx/wpaper...
Very grateful to Professors Carril-Caccia, Itakura, Kimata, Kwon, Paniagua (@jordipaniagua.bsky.social), Uchida, and Yu for volunteering to translate the โGravity for Undergradsโ Chapter into Chinese, Japanese, and Spanish. We hope this is useful to many students.
ideas.repec.org/p/drx/wpaper...
If you teach an undergrad international trade course and want some hands-on experience with real data & Stata or R, consider my โGravity for Undergradsโ Chapter. It may be useful in econometrics, undergrad seminars, and undergrad theses. Gravity Rules ๐ช
yotoyotov.com/Gravity_Unde...
Contento de compartir la siguiente guรญa en espaรฑol para la estimaciรณn de modelos de gravedad elaborada por @yotoyotov.bsky.social y traducida por @jordipaniagua.bsky.social y yo.
La guรญa se puede descargar aquรญ: ideas.repec.org/p/drx/wpaper...
Los datos y cรณdigo aquรญ: yotoyotov.com/Gravity_Unde...
๐ช๐ธ๐ช๐ธ Muy contento de compartir el capรญtulo "Gravity for Undergrads" en espaรฑol. Muchas gracias a los profesores Carril-Caccia y Paniagua (@jordipaniagua.bsky.socialโฌ), que se ofrecieron voluntariamente a aportar este bien pรบblico al alumnado hispanohablante. ๐๐ช ๐ช๐ธ
ideas.repec.org/p/drx/wpaper...
Thanks a lot, Nathan, and I hope you are well! Most credit goes to the amazing Arne and Fernando.
Arne, Fernando, and I are happy to share the updated version of the โjwdidโ command for heterogeneity-robust estimations with non-linear outcomes and high-dimensional fixed effects, along with the corresponding paper. We hope it is useful.
ideas.repec.org/p/drx/wpaper...
Happy to see our survey on #sanctions with
@gfelbermayr.bsky.social, Cliff Morgan, and Costas Syropoulos published at the Annual Review of Economics.
go.shr.lc/3Rtj9dP
So looking forward to our Global Ecoonomic Networks Workshop next week at Lake Como!
The exciting program is now availbale via:
sites.google.com/site/peterep...
Good news on trade. Arne, Mario, Philipp and I construct a dataset on โtrade specialistsโ. We find that the trade costs for the specialists are four times lower than for non-specialists. The corresponding welfare gain from globally efficient trade is 80%!
Graph of the prevalence of US dollar anchoring over time. There is a sharp drop after 1971. The collapse of the Bretton Woods system has traditionally been cited as heralding a major shift towards floating exchange rates. The extent of this transition has recently been challenged. This column introduces a new index of global exchange rate fixity which is invariant to country boundaries and accounts for indirect relationships. It finds that global anchoring to the US dollar fell sharply after 1971, and global exchange rate fixity is now only about one-third of the Bretton Woods level. This potentially sheds new light on other important secular trends, including the dominant currency paradigm and the global financial cycle.
@kevinhorourke.bsky.social & Roger Vicquery introduce a new index of global exchange rate fixity and find that global anchoring to the US dollar fell sharply after 1971, and global exchange rate fixity is now only about one-third of the Bretton Woods level.
cepr.org/voxeu/column...
#EconSky
๐ขNEW DATA! Happy to share the new release of the International Trade and Production Database for Estimation - ITPD-E-R03. Thanks to my co-authors Mario Larch & Serge Shikher and to the USITC!
For details: ideas.repec.org/p/drx/wpaper...
Enjoy the data and have a great summer!
Sloppy headline. Of course, they were down in April -- because they were WAY up in March ahead of the (potential?) tariffs. It even goes on to say "However when compared with April 2024, goods exports were still up by โฌ2.5 billion." Sorry to spoil your story with your OWN story.
Using a new data on international and domestic languages, we argue that having a uniform language within a country leads to significant welfare gains, however, the gains from bilingualism are even lerger.
Thanks for all your valuable service to the profession!
RePEc has no staff, thus we rely on volunteers and some self-help by users: publishers index their works, authors maintain their online profile, so that volunteers can take care of the rest. Thanks for doing your part.
repec.org
#RePEc #EconSky
It was an honor and a great pleasure!
Javier Flรณrez (@pseud0safari.bsky.social), Mario Larch, Sebastien Bradley, and I are very happy share the update of the most disaggregated dataset of consistently constructed international and domestic trade flows -- GRANTPA.
So, letโs estimate GRAVITY with GRANTPA.
ideas.repec.org/p/drx/wpaper...
๐จ๐จGood news for the EU! The great Lionel Fontagnรฉ & I propose new measures of the potential of trade blocs. An EU application shows that the EU has been very successful, but only half of the potential gains from the EU have been realized to date.๐
ideas.repec.org/p/drx/wpaper...
โช@ec.europa.euโฌ
Two sad news for science this weekend:
1. The (allegedly) fraudulent paper by the MIT student ๐
thebsdetector.substack.com/p/ai-materia...
2. And the revelation that one can buy citations at Google Scholar ๐
arxiv.org/abs/2402.04607
On the bright side ... I am going fishing
Despite the current challenges and prior doubts regarding the ability of GATT/WTO to promote international trade, the evidence from our meta-analysis is that the WTO/GATT effects on trade have been positive and significant. Happy 30th anniversary & thanks, GATT/WTO!
ideas.repec.org/p/drx/wpaper...
Thanks a lot, Paul!
๐จ GRAVITY for UNDERGRADS๐จ
Very happy to share โGravity for Undergradsโ - a Chapter, designed to introduce the gravity model to undergrads and novices in trade. It comes with data and code in Stata & R. I hope it is useful. Gravity rules ๐ช
yotoyotov.com/Gravity_Unde...