Whats Is Firm Heterogeneity In Trade Models
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Whats Is Firm Heterogeneity In Trade Models
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Author : Colin Hottman
language : en
Publisher:
Release Date : 2014
Whats Is Firm Heterogeneity In Trade Models written by Colin Hottman 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.
What Is Firm Heterogeneity In Trade Models
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Author : Colin Hottman
language : en
Publisher:
Release Date : 2014
What Is Firm Heterogeneity In Trade Models written by Colin Hottman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Business enterprises categories.
We estimate a structural model of heterogeneous multiproduct firms to examine the sources of firm heterogeneity emphasized in the recent trade and macro literatures. Using Nielsen barcode data on prices and sales, we estimate elasticities of substitution within and between firms, and use the estimated model to recover unobserved qualities, marginal costs and markups. We find that variation in firm quality and product scope explains at least four fifths of the variation in firm sales. Most firms are well approximated by the monopolistic competition benchmark of constant markups, but the largest firms that account for most of aggregate sales depart substantially from this benchmark. Although the output of multiproduct firms is differentiated, cannibalization is quantitatively important for the largest firms. This imperfect substitutability of products within firms, and the fact that larger firms supply more products than smaller firms, implies that standard productivity measures are not independent of demand system assumptions and probably dramatically understate the relative productivity of the largest firms.
Intra Industry Trade With Firm Heterogeneity The Melitz Model And Its Recent Extensions
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Author : Michael Betz
language : en
Publisher: GRIN Verlag
Release Date : 2016-07-12
Intra Industry Trade With Firm Heterogeneity The Melitz Model And Its Recent Extensions written by Michael Betz and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-12 with Business & Economics categories.
Master's Thesis from the year 2015 in the subject Economics - International Economic Relations, grade: 2,0, University of Münster (Institute of International Economics), language: English, abstract: While the traditional Trade Theory is merely able to explain trade between developed and less developed countries, the more recent literature of the New Trade Theory allows for capturing trade between countries that are all highly developed. One of its models - the Melitz model of intra-industry trade (2003) - incorporates heterogeneity in firm productivity into a framework based on Krugman (1980). The Melitz model is a corner stone of New Trade Theory models and has been extended in various papers to analyze intra-industry trade with respect to different aspects. One important aspect that is covered intensively in recent literature is the efect of unilateral trade liberalization on a country's welfare. This thesis presents the Melitz model (2003) by firstly illustrating its fundament based onKrugman (1980) and secondly deriving its working mechanisms both for opening for trade as well as for trade liberalization. Further, extensions by Melitz and Ottaviano (2005) and Demidova and Rodriguez-Clarez (2011) will be presented. The thesis concludes by discussing the contribution of the Melitz model to explain occurring trading patterns and its limitations.
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.
Heterogeneous Firms And Trade
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Author : Richard E. Baldwin
language : en
Publisher:
Release Date : 2005
Heterogeneous Firms And Trade written by Richard E. Baldwin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Commerce categories.
This paper sets out a basic heterogeneous-firms trade model that is closely akin to Melitz (2003). The positive and normative properties of the model are studied in a manner intended to highlight the core economic logic of the model. The paper also studies the impact of greater openness at the firm-level and aggregate level, focusing on changes in the number and type of firms, trade volumes and prices, and productivity effects. The normative effects of liberalisation are also studied and here the paper focuses on aggregate gains from trade, and income redistribution effects, showing inter alia that the model is marked by a Stolper-Samuelson like effect. A number of empirically testable hypotheses are also developed. These concern the impact of greater openness on the firm-level trade pattern, the variance of unit-prices, the stock market valuation of firms according to size, and the lobbying behaviour by size.
Comparative Advantage And Heterogeneous Firms
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Author : Andrew B. Bernard
language : en
Publisher:
Release Date : 2004
Comparative Advantage And Heterogeneous Firms written by Andrew B. Bernard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Diversification in industry categories.
This paper presents a model of international trade that features heterogeneous firms, relative endowment differences across countries, and consumer taste for variety. The paper demonstrates that firm reactions to trade liberalization generate endogenous Ricardian productivity responses at the industry level that magnify countries' comparative advantage. Focusing on the wide range of firm-level reactions to falling trade costs, the model also shows that, as trade costs fall, firms in comparative advantage industries are more likely to export, that relative firm size and the relative number of firms increases more in comparative advantage industries and that job turnover is higher in comparative advantage industries than in comparative disadvantage industries.
Aggregate Implications Of Firm Heterogeneity
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Author : Rodrigo Adão
language : en
Publisher:
Release Date : 2020
Aggregate Implications Of Firm Heterogeneity written by Rodrigo Adão and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
We measure the role of firm heterogeneity in counterfactual predictions of monopolistic competition trade models without parametric restrictions on the distribution of firm fundamentals. We show that two bilateral elasticity functions are sufficient to nonparametrically compute the counterfactual aggregate impact of trade shocks, and recover changes in economic fundamentals from observed data. These functions are identified from two semiparametric gravity equations governing the impact of bilateral trade costs on the extensive and intensive margins of firm-level exports. Applying our methodology, we estimate elasticity functions that imply an impact of trade costs on trade flows that falls when more firms serve a market because of smaller extensive margin responses. Compared to a baseline where elasticities are constant, firm heterogeneity amplifies both the gains from trade in countries with more exporter firms and the welfare gains of European market integration in 2003-2012.
Trade Flows Multilateral Resistance And Firm Heterogeneity
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Author : Mr.Alberto Behar
language : en
Publisher: International Monetary Fund
Release Date : 2012-12-20
Trade Flows Multilateral Resistance And Firm Heterogeneity written by Mr.Alberto Behar and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-20 with Business & Economics categories.
We present a gravity model that accounts for multilateral resistance, firm heterogeneity and country-selection into trade, while accommodating asymmetries in trade flows. A new equation for the proportion of exporting firms takes a gravity form, such that the extensive margin is also affected by multilateral resistance. We develop Taylor approximated multilateral resistance terms with which to capture the comparative static effects of changes in trade costs. For isolated bilateral changes in trade frictions, multilateral resistance effects are small for most countries. However, if all countries reduce their trade frictions, the impact of multilateral resistance is so strong that bilateral trade falls in most cases, despite the larger trade elasticities implied by firm heterogeneity. As a consequence, the world-wide trade response, though positive, is much lower.
Firm Heterogeneity And Multiproduct Firms In International Trade
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Author : Hong Ma
language : en
Publisher:
Release Date : 2009
Firm Heterogeneity And Multiproduct Firms In International Trade written by Hong Ma and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
The Choice Of Modeling Firm Heterogeneity And Trade Restrictions
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Author : Matthew T. Cole
language : en
Publisher:
Release Date : 2009
The Choice Of Modeling Firm Heterogeneity And Trade Restrictions written by Matthew T. Cole and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business enterprises categories.