Convite para Seminario com o Prof. Luiz Renato

Convidamos a todos para participar do seminário do Professor Luiz
Renato (Departamento de Economia) que ocorrerá sexta (25/07) às 14h na
sala 19. Seguem abaixo título e resumo.


Titulo: Robust Estimation of Gravity Equations and the WTO Impact on Trade
Inequality

Abstract:
This paper develops a quantile estimation approach for the gravity model
that identifies
the impact of policy on trade dispersion. Our approach accommodates
positive as well as
zero trade flows across pair of countries, endogenous formation of trade
agreements and
is robust with respect to heteroskedasticity. In international trade data,
the estimator
provides evidence that WTO membership has little impact on the mean, but
it reduces
the inter-quartile range by 17%. Therefore, WTO membership releases
frictions such that
low-value trade relationships increase and high-value ones decrease to
lower the dispersion
in the trade flow distribution. The data show that other types of
agreements increase such
a dispersion.