G2TT
来源类型Discussion paper
规范类型论文
来源IDDP10133
DP10133 What is Firm Heterogeneity in Trade Models? The Role of Quality, Scope, Markups, and Cost
Stephen Redding; David Weinstein; Colin Hottman
发表日期2014-09-14
出版年2014
语种英语
摘要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.
主题International Trade and Regional Economics
关键词Cannibalization effects Firm heterogeneity Multiproduct firms Productivity
URLhttps://cepr.org/publications/dp10133
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/538966
推荐引用方式
GB/T 7714
Stephen Redding,David Weinstein,Colin Hottman. DP10133 What is Firm Heterogeneity in Trade Models? The Role of Quality, Scope, Markups, and Cost. 2014.
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