Imports and welfare: variety losses of the Argentine crisis of 2001-2002
The access to a large variety of products is one of the main sources of gains from international trade and globalization. When an economy goes through a crisis, aggregate demand shrinks resulting in fewer product varieties being imported. In this paper we quantify short-run and medium-run welfare lo...
Guardado en:
| Autores principales: | , |
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| Formato: | Objeto de conferencia |
| Lenguaje: | Inglés |
| Publicado: |
2011
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| Materias: | |
| Acceso en línea: | http://sedici.unlp.edu.ar/handle/10915/170439 |
| Aporte de: |
| Sumario: | The access to a large variety of products is one of the main sources of gains from international trade and globalization. When an economy goes through a crisis, aggregate demand shrinks resulting in fewer product varieties being imported. In this paper we quantify short-run and medium-run welfare losses that resulted from the reduction in the number of imported product varieties during the Argentine crisis of 2001-2002. We find that short-run welfare losses vary widely across products and that medium-run recovery depends on the ability to substitute towards new varieties. |
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