Gains from trade and measured total factor productivity

We develop and calibrate a model where di¤erences in factor en-dowments lead countries to trade di¤erent goods, so that the existenceof international trade changes the sectorial composition of output fromone country to another. Gains from trade re ect in total factor produc-tivity. We perform a development decomposition, to assess the impactof trade and barriers to trade on measured TFP. In our sample, themedian size of that e¤ect is about 6.5% of output, with a median of17% and a maximum of 89%. Also, the model predicts that changes inthe terms of trade cause a change of productivity, and that e¤ect hasan average elasticity of 0.71.

Como ilha ameaçada. Os dias dos Diários portugueses de Meyer-Clason

Recensão crítica de Curt Meyer-Clason, Diários portugueses (1969-1976), Lisboa, Documenta, 2013. Tradução, posfácio e notas de João Barrento