| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13976 |
| DP13976 Misallocation Under Trade Liberalization | |
| Keyu Jin | |
| 发表日期 | 2019-09-01 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | This paper incorporates firm-level distortions into a Melitz model and characterizes welfare under misallocation. We derive an analogue to the well-known ACR result in an economy with distortions. We highlight a channel through which trade can reduce welfare by exacerbating misallocation. A key statistic to infer welfare is the gap between input and output shares. Using Chinese manufacturing data for quantitative analysis, we show that trade integration can lead to a 18% welfare loss coming from a reduction in allocative efficiency. The overall gains to trade is substantially smaller than implied by standard calculations. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Capital and labor wedges Misallocation Trade liberalization Gains from trade Industrial policy |
| URL | https://cepr.org/publications/dp13976 |
| 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/542857 |
| 推荐引用方式 GB/T 7714 | Keyu Jin. DP13976 Misallocation Under Trade Liberalization. 2019. |
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