Trade and the global recession
By: Jonathan Eaton .. [et al.].
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 16666; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16666.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] /
Description: "Global trade fell 30 percent relative to GDP during the Great Recession of 2008-2009.  Did this collapse result from factors impeding international transactions or did it simply reflect the greater severity of the recession in highly traded sectors? We answer this question with detailed international data, interpreted within a general-equilibrium trade model.  Counterfactual simulations of the model show that a shift in spending away from manufactures, particularly durables, accounts for more than 80 percent of the drop in trade/GDP.  Increased trade impediments reduced trade in some countries, but globally the impact of these changes largely cancels out"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 4/14/2011.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.