| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP9405
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| DP9405 Firm Heterogeneity and Aggregate Welfare |
| Stephen Redding; Marc J Melitz
|
| 发表日期 | 2013-03-24
|
| 出版年 | 2013
|
| 语种 | 英语
|
| 摘要 | We examine how firm heterogeneity influences aggregate welfare through endogenous firm selection. We consider a homogeneous firm model that is a special case of a heterogeneous firm model with a degenerate productivity distribution. Keeping all structural parameters besides the productivity distribution the same, we show that the two models have different aggregate welfare implications, with larger welfare gains from reductions in trade costs in the heterogeneous firm model. Calibrating parameters to key U.S. aggregate and firm statistics, we find these differences in aggregate welfare to be quantitatively important (up to a few percentage points of GDP). Under the assumption of a Pareto productivity distribution, the two models can be calibrated to the same observed trade share, trade elasticity with respect to variable trade costs, and hence welfare gains from trade (as shown by Arkolakis, Costinot and Rodriguez-Clare, 2012); but this requires assuming different elasticities of substitution between varieties and different fixed and variable trade costs across the two models. |
| 主题 | International Trade and Regional Economics
|
| 关键词 | Firm heterogeneity
Welfare gains from trade
|
| URL | https://cepr.org/publications/dp9405
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538241
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推荐引用方式
GB/T 7714 |
Stephen Redding,Marc J Melitz. DP9405 Firm Heterogeneity and Aggregate Welfare. 2013.
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