| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10133 |
| 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 |
| URL | https://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. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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