| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5578 |
| DP5578 Prediction Markets in Theory and Practice | |
| Justin Wolfers; Eric Zitzewitz | |
| 发表日期 | 2006-03-24 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper explores the impact of trade on growth when firms are heterogeneous. We find that greater openness produces anti-and pro-growth effects. The Melitz-model selection effects raises the expected cost of introducing a new variety and this tends to slow the rate of new-variety introduction and hence growth. The pro-growth effect stems from the impact that freer trade has on the marginal cost of innovating. The balance of the two effects is ambiguous with the sign depending upon the exact nature of the innovation technology and its connection to international trade in goods and ideas. We consider five special cases (these include the Grossman-Helpman, the Coe-Helpman and Rivera-Batiz-Romer models) two of which suggest that trade harms growth; the others predicting the opposite. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Trade and endogenous growth Heterogeneous firms Dynamic versus static efficiency |
| URL | https://cepr.org/publications/dp5578 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534438 |
| 推荐引用方式 GB/T 7714 | Justin Wolfers,Eric Zitzewitz. DP5578 Prediction Markets in Theory and Practice. 2006. |
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