The Margins of US Trade
Open accessAbstract
Recent research in international trade emphasizes the importance of firms’ extensive margins for understanding overall patterns of trade as well as how firms respond to specific events such as trade liberalization. In this paper, we use detailed U.S. trade statistics to provide a broad overview of how the margins of trade contribute to variation in U.S. imports and exports across trading partners, types of trade (i.e. arm’s-length versus related-party) and both short and long time horizons. Among other results, we highlight the differential behaviour of related-party and arm’s-length trade in response to the 1997 Asian financial crisis.
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Bernard et al. (2009) document similar patterns in U.S. exports to and U.S. imports from several Asian countries during the 1997 Asian Financial Crisis, suggesting external validity of the intensive-margin findings.
“the findings of Bernard et al. (2009) suggest the external validity of these findings, as they document similar patterns in U.S. exports to and U.S. imports from several Asian countries during the 1997 Asian Financial Crisis.”
From De-Globalisation? Global Value Chains in the Post-COVID-19 Age (2020) · cites this paper as Bernard et al. (2009)
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References 44 · Cited by 338
Research works printed but not linked: 13
- Bernard, Andrew B., J. Bradford Jensen, Stephen J. Redding, and Peter K. Schott. 2007. "Firms in International Trade." Journal of Economic Perspectives, 21(3): 105-30.
- Timothy Dunne, J. Bradford Jensen, and Mark J. Roberts, 133-63. Chicago: University of Chicago Press.
- Bernard, Andrew B., Stephen J. Redding, and Peter K. Schott. Forthcoming. "Multi-product Firms and Product Switching." American Eco- nomic Review.
- Eaton, Jonathan, Marcela Eslava, Maurice Kugler, and James R. Tybout. 2008. "The Margins of Entry into Export Markets: Evi- dence from Colombia." In The Organization of firms in a Global Economy, ed. Elhanan Helpman, Dalia Marin, and Thierry Verdier, 231-72. Cambridge, MA: Harvard University Press.
- Melitz, Marc J. 2003 "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity." Econometrica, 71(1): 1695-1725.
- Juan de Lucio, Raúl Mínguez#Fuentes, Asier Minondo, Francisco Requena#Silvente. 2011. The extensive and intensive margins of Spanish trade. International Review of Applied Economics 1-17. [CrossRef] · DOI
- Richard Fabling, Arthur Grimes, Lynda Sanderson. 2011. Whatever next? Export market choices of New Zealand firms*. Papers in Regional Science no-no. [CrossRef] · DOI
- A. B. Bernard, S. J. Redding, P. K. Schott. 2011. Multiproduct Firms and Trade Liberalization. The Quarterly Journal of Economics . [CrossRef] · DOI
- Bernard Hoekman, Alessandro Nicita. 2011. Trade Policy, Trade Costs, and Developing Country Trade. World Development . [CrossRef] · DOI
- J. A. Rodriguez-Lopez. 2011. Prices and Exchange Rates: A Theory of Disconnect. The Review of Economic Studies . [CrossRef] · DOI
- Kozo Kiyota. 2010. Are US Exports Different from China's Exports? Evidence from Japan's Imports. The World Economy 33:10, 1302-1324. [CrossRef] · DOI
- Kichun Kang, Byung Chul Ahn. 2010. China's Penetration of the Korean Market: Stylized Facts and Welfare Effect. China & World Economy 18:5, 54-71. [CrossRef] · DOI
- Stephen J. Redding. 2010. Theories of Heterogeneous Firms and Trade. Annual Review of Economics 3:1, 110301095653089. [CrossRef · DOI
- Authors
- Bernard, A. B., Jensen, J. B., Redding, S. J., & Schott, P. K.
- Affiliations
- Dartmouth College (US)
- Georgetown University (US)
- Centre for Economic Policy Research (GB)
- Yale University (US)
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2009-04-01
- Volume
- 99
- Issue
- 2
- Pages
- 487-493
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2069994739
- Cited by
- 338
- References
- 44
- Citations by year
- 2026: 10 · 2025: 13 · 2024: 27 · 2023: 22 · 2022: 16 · 2021: 19 · 2020: 12 · 2019: 15 · 2018: 23 · 2017: 20 · 2016: 11 · 2015: 29 · 2014: 20 · 2013: 19 · 2012: 26
- FWCI
- 65.84
- Type
- journal article
- Language
- en
- Open access
- bronze
- doi.org
- Locations
- American Economic Review (publishedVersion)
- London School of Economics and Political Science Research Online (London School of Economics and Political Science) (submittedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Funders
- National Science Foundation
- Topics
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Global trade and economics
- Social Sciences › Business, Management and Accounting › Strategy and Management › International Business and FDI
- Social Sciences › Business, Management and Accounting › Strategy and Management › Global Trade and Competitiveness
- Keywords
- trade liberalization, Asian financial crisis, trade partners, firm-level trade data
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