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ABSTRACT
We provide an overview and synthesis of recent work on models of monopolistic competition with heterogeneous firms in international trade, paying particular attention to pass-through, selection effects, competition effects, and matching endogenous with exogenous distributions. A recurring theme is that CES preferences are extremely convenient for deriving analytic results, but also extremely restrictive in their theoretical and empirical implications. We introduce the class of “constant-response demand functions” to describe some related families of demand functions that provide a unifying principle for much recent work that explores alternatives to CES demands.
Keywords: Heterogeneous firms, pass-through, quantifying effects of globalization, super- and sub-convexity, supermodularity.
JEL Codes: F12, L11, F23.
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PRESENTER
Peter Neary
University of Oxford
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RESEARCH FIELDS
International Trade
Industrial Organization
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DATE:
8 November 2019 (Friday)
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TIME:
2pm - 3.30pm
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VENUE:
Meeting Room 5.1, Level 5
School of Economics
Singapore Management University
90 Stamford Road
Singapore 178903
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