| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10255 |
| DP10255 New trade models, elusive welfare gains | |
| Yasusada Murata; Kristian Behrens | |
| 发表日期 | 2014-11-16 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | We generalize the formulae for welfare changes by Arkolakis, Costinot, and Rodríguez-Clare (2012) and Melitz and Redding (2014a) to allow for various cardinalizations of the subutility functions for varieties. Despite the same macro restrictions and the same equilibrium allocations, our new formula coincides with the original ones if and only if the number of varieties is invariant to foreign shocks. When product diversity responds to foreign shocks, different cardinalizations generate different welfare changes, thus revealing a fundamental difficulty in quantifying welfare gains implied by new trade models. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Cardinalization New trade models Product diversity Subutility function Welfare gains from trade |
| URL | https://cepr.org/publications/dp10255 |
| 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/539088 |
| 推荐引用方式 GB/T 7714 | Yasusada Murata,Kristian Behrens. DP10255 New trade models, elusive welfare gains. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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