@techreport{NBERw18113,
 title = "Why Trade Matters After All",
 author = "Ralph Ossa",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "18113",
 year = "2012",
 month = "May",
 URL = "http://www.nber.org/papers/w18113",
 abstract = {I show that accounting for cross-industry variation in trade elasticities greatly magnifies the estimated gains from trade. The main idea is as simple as it is general: While imports in the average industry do not matter too much, imports in some industries are critical to the functioning of the economy, so that a complete shutdown of international trade is very costly overall.},
}