RCTs and moments Long tradition in international trade research of iterating between statistics uncovered from micro data and developing ge models Simple Moments Nakamura& Steinsson 18 Unconditional means variances Firm heterogeneity- trading firms differ substantially from domestic oriented firms(Bernard and Jensen 95) Identified moments A target statistic obtained as a response to an identified structural shock (i.e, causal effect)Nakamura& Steinsson 18 Local labor market effects Trade shocks affect the performance of local labor markets(Topalova 10, Kovak 13, Autor et al 13, Caliendo et al 18, Adao et al 18) RCTs can provide moments that useful for discriminating between models and mechanismsRCTs and Moments • Long tradition in international trade research of iterating between statistics uncovered from micro data and developing GE models • Simple Moments Nakamura & Steinsson 18 – Unconditional means, variances – Firm heterogeneity - trading firms differ substantially from domestic￾oriented firms (Bernard and Jensen 95) • Identified Moments – “A target statistic obtained as a response to an identified structural shock (i.e., causal effect)” Nakamura & Steinsson 18 – Local labor market effects • Trade shocks affect the performance of local labor markets (Topalova 10, Kovak 13, Autor et al 13, Caliendo et al 18, Adao et al 18) • RCTs can provide moments that useful for discriminating between models and mechanisms 6