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- Home_bias_in_trade_puzzle abstract "The Home bias in trade puzzle is a widely discussed problem in macroeconomics and international finance, first documented by John T. McCallum in an article from 1995.McCallum showed that for the United States and Canada, inter-province trade is 20 times larger than international trade, holding other determinants of trade fixed. Subsequent estimates by John F. Helliwell[citation needed] and others have whittled this bias down to 6 to 12. This home bias in trade has later been documented among OECD countries.[citation needed] The preferred explanation for this finding has been the presence of formal and informal trade barriers following national borders. Another possible solution to the fact that domestic trade is 20 times larger than international trade could be that domestically traders speak the same language.If presence of formal and informal trade barriers following national borders was the sole reason for this puzzle, home bias should not exist on the subnational level. Wolf (2000) finds, however, that home bias is present also within U.S. states.Maurice Obstfeld and Kenneth Rogoff identifies this as one of the six major puzzles in international economics. The others are the Feldstein-Horioka puzzle, the equity home bias puzzle, the consumption correlations puzzle, the purchasing power and exchange rate disconnect puzzle, and the Baxter-Stockman neutrality of exchange rate regime puzzle.".
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- Home_bias_in_trade_puzzle wikiPageRevisionID "567494918".
- Home_bias_in_trade_puzzle hasPhotoCollection Home_bias_in_trade_puzzle.
- Home_bias_in_trade_puzzle subject Category:Economic_puzzles.
- Home_bias_in_trade_puzzle subject Category:International_finance.
- Home_bias_in_trade_puzzle subject Category:International_macroeconomics.
- Home_bias_in_trade_puzzle type Abstraction100002137.
- Home_bias_in_trade_puzzle type Communication100033020.
- Home_bias_in_trade_puzzle type EconomicPuzzles.
- Home_bias_in_trade_puzzle type Message106598915.
- Home_bias_in_trade_puzzle type Problem106784003.
- Home_bias_in_trade_puzzle type Puzzle106784639.
- Home_bias_in_trade_puzzle type Question106783768.
- Home_bias_in_trade_puzzle type Subject106599788.
- Home_bias_in_trade_puzzle comment "The Home bias in trade puzzle is a widely discussed problem in macroeconomics and international finance, first documented by John T. McCallum in an article from 1995.McCallum showed that for the United States and Canada, inter-province trade is 20 times larger than international trade, holding other determinants of trade fixed. Subsequent estimates by John F. Helliwell[citation needed] and others have whittled this bias down to 6 to 12.".
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