Understanding Interstate Trade Patterns Yilmazkuday, Hakan

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Yilmazkuday, Hakan
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Journal of International Economics
Economics; Business, international; transportation
To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jinteco.2011.08.015 Byline: Hakan Yilmazkuday Keywords: Trade patterns; Elasticity of substitution; Elasticity of distance; The United States Abstract: This paper models and estimates bilateral trade patterns of U.S. states in a CES framework and identifies the elasticity of substitution across goods, the elasticities of substitution across varieties of each good, and the good-specific elasticities of distance by using markup values obtained from the production side. Compared to the international trade literature, the elasticity of substitution estimates are lower across both goods and varieties, while the elasticity of distance estimates are higher. Although home-bias effects at the state level are significant, there is evidence for decreasing effects over time. Article History: Received 2 November 2009; Revised 22 August 2011; Accepted 23 August 2011 Article Note: (footnote) [star] The author would like to thank Jonathan Eaton, an anonymous referee, Eric Bond, Meredith Crowley, Mario Crucini, Kevin Huang, David Hummels, Kei-Mu Yi, seminar participants at Vanderbilt University, Temple University, Midwest International Economics Meeting participants in University of Illinois at Urbana-Champaign, SRSA Annual Meeting participants in Arlington, VA-Washington, DC for their helpful comments and suggestions. The usual disclaimer applies.
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