Article summary
This paper asks how to measure bilateral (dyadic) trade dependence in a contemporary world economy characterized by intensive intermediate goods trade and changing availability of partners and substitutes. The authors construct measures from structural-gravity models that quantify (1) how much trade interruptions reduce a country’s welfare and (2) how much additional trade from existing partners would be required to compensate. The brief summarizes the research question, the measurement approach, and the paper’s reported comparisons with traditional aggregate measures.