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The CEPII Newsletter       
November 2017        



The French edition is slightly different as it also includes material available in French only  

Europe Monnaie & Finance Trade & Globalization Migrations Economic Policy Emerging Economies Competitivness & Growth Environment & Natural Ressources
  Focus

International Trade, Quality Sorting and Trade Costs: The Case of Cognac

We validate empirically the Alchian and Allen effect based on a direct and physical rather than perceived definition of product quality, during a long time-span covering almost forty-seven years of Cognac export flows. We also assess empirically the impact of customs protection on trade flows by quality by distinguishing between per-unit and ad-valorem tariffs. Our results confirm the Alchian and Allen effect when analyzing the time variation of trade costs through containerization.
Charlotte Emlinger & Viola Lamani
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  Facts & Figures


1 or 40%?



Trade between Japan and the EU is not a big deal in world trade, barely more than 1%. Their Economic Partnership Agreement can nevertheless be very influential because, jointly, they are a party in more than 40% of world trade, and much more in innovative sectors.
Sébastien Jean

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ISSN: 1255-7072
Editorial Director : Sébastien Jean
Managing Editor : Dominique Pianelli