Essays On Firms In International Trade
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Essays On Firms And International Trade
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Author : Alvaro Felipe Garcia Marin
language : en
Publisher:
Release Date : 2014
Essays On Firms And International Trade written by Alvaro Felipe Garcia Marin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This dissertation empirically examines three different questions related to the behavior and performance of firms participating of international trade. In the first essay, I ask whether exporting allows firms to charge higher markups. To study this question, I use a unique dataset of Chilean manufacturing firms that contains product-level data on the price and average cost for all goods produced and exported. This allows me to compute direct markup measures, and to identify whether markups variation is accounted by different pricing policies or changes in the production cost. Although within firms the export markup premium is moderate -about 2%-, the study of the trajectories of markups before and after export entry reveals the presence of ongoing gains after export entry. While at the moment of export entry the markup of exported products is not different than the markup of domestic products, three periods after export entry the markup wedge increases to about 7-9%. A decomposition of the markup premium reveals that, within firms, the higher markups on exported products is accounted by both higher prices and marginal cost. In contrast, after export entry, prices and average cost tend to decrease. In the second essay -based on joint work with Nico Voigtlaender-, we revisit the old question of whether firms become more productive after export entry. While there is strong evidence for productivity-driven selection into exporting, previous research has mostly failed to identify export-related efficiency gains within plants. This non-result is typically derived from revenue productivity, which reflects price variation. Using a census panel of Chilean manufacturing plants, we first confirm the non-result for revenue productivity. We then compute plant-product level marginal cost as an efficiency measure that is not affected by prices. We find within-plant efficiency gains of 15-25%, the same order of magnitude as selection effects across plants. Evidence suggests that technology upgrading in combination with export entry is an important driver behind these gains. The final essay studies firms' quality patterns across destinations, when they produce products in different quality segments. I develop a quality model with non-homothetic quality demand and heterogeneity in consumers' income. The model features quality sorting of consumers according to their income level. This implies that firm's quality allocation depends not only on the average income of the country, but on the entire income distribution of the country. The main prediction of the model is related to the role of income inequality on within-firm quality patters. I find that in countries with a smaller middle classes, firms' tend to skew their exports towards products of higher quality. This effect tends to be weaker in countries with higher income. To illustrate the main predictions of the model, I use a unique dataset from the Chilean wine industry. This dataset allows me to construct measures of product quality, that are not affected by aggregation or markup issues. In line with the model's predictions, I find that firms tend export proportionally more high quality products to more unequal countries. However, I find this effect to be quantitatively important only in low and middle-income countries.
The Gains From Trade And The Gains From Aid
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Author : Murray C. Kemp
language : en
Publisher: Routledge
Release Date : 2002-09-11
The Gains From Trade And The Gains From Aid written by Murray C. Kemp and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-11 with Business & Economics categories.
This book focuses on the normative side of trade theory and is divided into five parts: * trade under perfect competition; * restricted trade under perfect competition; * trade under imperfect competition and other distortions; * Compensation: lumpsum, non-lumpsum or neither? * International trade
Essays On Firm Heterogeneity And Quality In International Trade
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Author : Eddy Bekkers
language : en
Publisher: Rozenberg Publishers
Release Date : 2008
Essays On Firm Heterogeneity And Quality In International Trade written by Eddy Bekkers and has been published by Rozenberg Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
The thesis is organized as follows. Chapter 2 contains a survey of the three most in‡fluential models on fi…rm heterogeneity and of the most important empirical work on firrm heterogeneity. The chapter starts with a brief review of the homogeneous productivity imperfect competition literature. Chapter 2 …finishes with a comparison of the three most in‡fluential models of fi…rm heterogeneity and the oligopoly model put forward in the thesis. Chapter 3 addresses exporting uncertainty under heterogeneous popularity. Chapter 4 contains the chapter on …firm heterogeneity under oligopoly. Chapter 5 constitutes the models on …firm heterogeneity and endogenous quality. Chapter 6 points out the within-sector specialization model. Chapter 7 addresses the effect of importer characteristics on unit values and the role of markups and quality to explain this effect. Chapter 8 concludes.
Essays On Firms In International Trade
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Author : Minkyu Son
language : en
Publisher:
Release Date : 2021
Essays On Firms In International Trade written by Minkyu Son and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Essays On Firms In International Trade
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Author : Boris Georgiev
language : en
Publisher:
Release Date : 2018
Essays On Firms In International Trade written by Boris Georgiev and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Essays On International Trade With Heterogeneous Firms
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Author : Luca David Opromolla
language : en
Publisher:
Release Date : 2006
Essays On International Trade With Heterogeneous Firms written by Luca David Opromolla and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Chile categories.
Essays On Firms In International Trade
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Author : Jan Frederik Schlupp
language : en
Publisher:
Release Date : 2021
Essays On Firms In International Trade written by Jan Frederik Schlupp and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Macroeconomic phenomena are ultimately the aggregation of a large number of micro decisions. In the case of international trade, decisions at both the plant and the firm level ultimately drive trends in the aggregate data. All three chapters in this dissertation focus on extending our understanding of the decisions made by exporters. In the first chapter,''Agglomeration and Local Spillover Effects of US Exporters'', I extend the study of local area information frictions in the context of exporting. Leveraging a novel dataset of establishment level exports in the US, I show for the first time in the US context that information about foreign demand affects entry and exit decisions into exporting at the county level. I extend a common model of social learning to incorporate the multi-dimensional nature of exporting choices. The second chapter,''The Local-Area Impact of Exporting'', details the creation of the establishment level export dataset. It also uses the novel detailed look into regional trade to show the additional impact of the 2007-2009 collapse in trade during the Great Recession on local labor market outcomes in counties which are more exposed to trade shocks. Partly inspired by the first chapter's observation that intermittent exporting is difficult to rationalize in standard models of trade, the third chapter, ``US exporters between 1993-2017'', documents how the export decisions of US exports vary over their life-cycle. Each of these chapters contributes new understanding of establishment export decisions at the micro-level, and taken together show that as data quality improves, the local environment of firms and exporters will increasingly matter for targeted macroeconomic interventions
Essays On Firms In International Trade
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Author : Brian Gabriel Pustilnik
language : en
Publisher:
Release Date : 2022
Essays On Firms In International Trade written by Brian Gabriel Pustilnik and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
This document contains a series of studies that were inspired by the international activity of firms in the rubber and tire industries. Several aspects of the production and commercialization of tires make these firms face challenges that are essential problems studied in the field of international trade. This industry has been at the core of my family's business practice for decades, allowing for a frequent interaction with many stakeholders in the production, wholesale and retail stages. Such interaction proved this industry to be a rich source of debate that can inform research on international trade. Some of the challenges facing these firms include the imposition of stringent and non-conventional trade barriers, the constant need for new export destinations and, from the production perspective, the volatility of rubber prices. These challenges are addressed in this dissertation. The first chapter uses tire industry data only, while chapters two and three analyze a wider range of industries. Overall, these studies draw insights and policy recommendations for a broad scope of industries. The welfare effects of trade policy crucially depend on import allocations and price effects. In chapter one, I show that these outcomes depend on whether importing firms are matched with multinational suppliers or with single-country producers. I study an antidumping duty imposed by Colombia on the imports of Chinese truck tires. In the data I observe the full network of Colombian importers and global exporters, some of which are multi-origin and some of which are single-origin. Due to the policy, imports of Chinese tires were almost fully reallocated into other origins. Moreover, the bulk of this reallocation was undertaken by importers matched with multi-origin exporters. Estimating a quantitative trade framework to match the reallocations and price changes that I see in the data, I find that under a counterfactual network without multinational suppliers, the increase in prices from the policy would have been twice as large than in the data. Chapter two explores the dynamics of Mexican exports when firms expand to new destinations in foreign markets. I document a decline in average growth and failure rates as firms enter new export destinations. These patterns reflect that in their initial set of destinations, exporters adjust their sales more than they do in subsequent markets. I develop a model of multi-market demand learning that rationalizes this behavior through knowledge accumulation and the delay in expansion to new destinations. Under the assumption that knowledge can be carried over destinations according to their market similarity, a trade-off arises. A larger number of destinations targeted upon entry can provide firms with a faster understanding of foreign market conditions. However, such strategies might be prohibitively expensive to some exporters. Therefore, few initial destinations might be used by exporters to "test the grounds" for subsequent similar markets. The patterns of entry and market similarities between destinations in the data suggest the possibility that a learning mechanism is an underlying part of the dynamics that we observe. In the third chapter (with Alvaro Boitier), we study how the use of supply contracts with fixed prices by firms can shape the transmission of input price shocks to aggregate macroeconomic variables. Input price shocks typically have negative consequences for developed economies that rely heavily on imported materials. However, firms employ risk management instruments to reduce their exposure. We rely on a novel dataset on supply contracts to document two empirical findings. First, we find a large exposure reduction to input price risk from firms using these contracts. Second, sector output and labor compensation have a smaller negative correlation with input price shocks when firms trade larger contracts. We assess the quantitative role of these contracts by introducing and calibrating a tractable general equilibrium model. In particular, we find that the use of these hedging instruments can substantially reduce the transmission of input price shocks to aggregate variables
Three Essays On Firms In International Trade
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Author : Johannes Schwarzer
language : en
Publisher:
Release Date : 2017
Three Essays On Firms In International Trade written by Johannes Schwarzer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
As the nature of international trade changes, this thesis contributes to a deeper understanding of the role of modern international trade and policy for firms and employment. It consists of three chapters. Chapter 1 investigates the effect of the Mutual Recognition Agreement (MRA) of 2002 between Switzerland and the European Union (EU) on the extensive margin of Swiss exports and thereby contributes to the literature on impact analysis of non-tariff measures. Embedding the theoretical setup in the heterogeneous firms in international trade literature, we model the MRA as a reduction in fixed exporting costs for firms in affected sectors exporting to the EU market, yielding predicted increases on the extensive margin of bilateral trade with the EU in those sectors. Using a double and triple difference approach, we find that the reduction of fixed costs induced by the MRA has entailed a relative diversification of Swiss exports of affected products into the EU. Chapter 2 revisits the "self-selection vs. learning-by-exporting (LBE)" debate with new evidence on a large panel of German firms and sheds new light on the channels that foster export-induced productivity gains. In line with previous results, we find substantial pre-export differences in productivity between future exporters and domestic firms. Nevertheless, these pre-export differences remain constant over time and we find strong evidence against a conscious self-selection effect, in which firms would actively engage in increasing their productivity in temporal proximity to starting to export. In contrast, we find support for the LBE hypothesis in both the manufacturing and the services sector, notably among continuing exporters. However, the learning effect is not progressive and more short-lived in the latter than in the former. We explain the different sectoral performances with significant differences in access to foreign markets, which is substantially lower and more c.
Clive M Schmitthoff S Select Essays On International Trade Law
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Author : Clive Maximilian Schmitthoff
language : en
Publisher: BRILL
Release Date : 1988-01-01
Clive M Schmitthoff S Select Essays On International Trade Law written by Clive Maximilian Schmitthoff and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-01-01 with Law categories.