贸易保证金密集:有多大、有多重要?

IF 6.3 1区 经济学 Q1 ECONOMICS American Economic Journal-Macroeconomics Pub Date : 2023-07-01 DOI:10.1257/mac.20200269
Ana M. Fernandes, Peter J. Klenow, S. Meleshchuk, Martha Denisse Pierola, A. Rodrı́guez-Clare
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引用次数: 0

摘要

在以恒定贸易弹性为特征的基准贸易模型中,双边出口完全取决于密集边际(每个公司的出口)或完全取决于广泛边际(公司数量)。我们的实证分析证明,这种变化大约有一半发生在每个边际上,这意味着贸易弹性不是恒定的。我们估计了一个广义Melitz模型,该模型具有企业生产率、固定成本和需求转移者的联合对数正态分布。使用精确代数,我们量化了贸易成本如何影响贸易流动和福利。福利效应与梅利茨-帕累托模型相似,但隐含贸易流量差异显著。(jel d22, d24, d43, f12, f14, l13)
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The Intensive Margin in Trade: How Big and How Important?
In benchmark trade models that feature a constant trade elasticity, bilateral exports vary entirely on the intensive margin (exports per firm) or entirely on the extensive margin (number of firms). Our empirical analysis documents that roughly one-half of this variation occurs along each margin, implying that the trade elasticity is not constant. We estimate a generalized Melitz model with a joint log-normal distribution for firm productivity, fixed costs, and demand shifters. Using exact-hat algebra, we quantify how trade costs affect trade flows and welfare. Welfare effects are similar to those in the Melitz-Pareto model, but implied trade flows differ significantly. (JEL D22, D24, D43, F12, F14, L13)
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来源期刊
CiteScore
8.20
自引率
1.70%
发文量
58
期刊介绍: American Economic Journal: Macroeconomics focuses on studies of aggregate fluctuations and growth, and the role of policy in that context. Such studies often borrow from and interact with research in other fields, such as monetary theory, industrial organization, finance, labor economics, political economy, public finance, international economics, and development economics. To the extent that they make a contribution to macroeconomics, papers in these fields are also welcome.
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