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Essays On International Trade Productivity And Firm Heterogeneity
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Book Synopsis Essays on International Trade, Productivity and Firm Heterogeneity by : Anders Åkerman
Download or read book Essays on International Trade, Productivity and Firm Heterogeneity written by Anders Åkerman and published by . This book was released on 2008 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on firm heterogeneity and quality in international trade by : Eddy Bekkers
Download or read book Essays on firm heterogeneity and quality in international trade written by Eddy Bekkers and published by Rozenberg Publishers. This book was released on 2008 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis is organized as follows. Chapter 2 contains a survey of the three most in‡fluential models on fi…rm heterogeneity and of the most important empirical work on firrm heterogeneity. The chapter starts with a brief review of the homogeneous productivity imperfect competition literature. Chapter 2 …finishes with a comparison of the three most in‡fluential models of fi…rm heterogeneity and the oligopoly model put forward in the thesis. Chapter 3 addresses exporting uncertainty under heterogeneous popularity. Chapter 4 contains the chapter on …firm heterogeneity under oligopoly. Chapter 5 constitutes the models on …firm heterogeneity and endogenous quality. Chapter 6 points out the within-sector specialization model. Chapter 7 addresses the effect of importer characteristics on unit values and the role of markups and quality to explain this effect. Chapter 8 concludes.
Book Synopsis Essays on Firm Dynamics, Endogenous Growth and International Trade by : Cristiana Benedetti Fasil
Download or read book Essays on Firm Dynamics, Endogenous Growth and International Trade written by Cristiana Benedetti Fasil and published by . This book was released on 2011 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent empirical firm level studies reveal the structural heterogeneity of firms in process and product innovation, as well as the central role of product quality in determining world trade patterns and intensities. This calls for a better understanding of the link between firm heterogeneity and the innovation and export decisions of firms which are at the base of productivity growth and, hence, economic growth and development. My dissertation contributes to this debate focusing on the supply side. I propose a novel way to model the production technology of firms by introducing two attributes of firm heterogeneity: cost efficiency and product quality. The goal of the first thesis chapter is to study the effects of process and product innovation on firm dynamics, productivity and endogenous long run growth. In the second chapter an open economy framework with trade between symmetric countries is analyzed. Here the focus is on quantifying the impact of trade as well as trade liberalization on firm innovation dynamics and productivity- and aggregate growth. The third chapter abstracts from endogenous growth and examines the role of the two attributes of firm heterogeneity in shaping the trade patterns and intensities within and across developed and developing countries.
Book Synopsis Essays in International Economics by : Charlotte Sandoz-Dit-Bragard
Download or read book Essays in International Economics written by Charlotte Sandoz-Dit-Bragard and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation, I contribute to the literature on international economics by drawing attention to the impact of trade flows and structural reforms on productivity growth in the manufacturing sector in Europe and India. ln the first chapter co-authored, with Antoine Berthou, Jong-Chung Chung and Kalina Manova, we demonstrate that growth in exports and imports boosts labor productivity, but only export demand reallocates activity toward more productive firms in presence of price distortions. Moreover, market and institutional frictions dampen the ability of economies to react and gain from trade shocks. ln the second chapter, I show that the increase in Chinese imports of intermediate inputs is a significant driver of aggregate TFP growth in France as it increases efficiency in sharing market shares between firms. Allowing more firms to access intermediate goods at the best price-quality ratio stimulates aggregate productivity growth. ln the third chapter, co-written with Adil Mohommad and Piyapom Sodsriwiboon, our finding suggests that removing structural rigidities in the labor market and improving credit allocation would reduce distortions and contribute to productivity gains and long term growth in India.
Book Synopsis Three Essays on Firm Productivity in Industrial Organization and International Trade by : Hongsong Zhang
Download or read book Three Essays on Firm Productivity in Industrial Organization and International Trade written by Hongsong Zhang and published by . This book was released on 2013 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on International Trade and Regional Productivity by : Hanpil Moon
Download or read book Three Essays on International Trade and Regional Productivity written by Hanpil Moon and published by . This book was released on 2011 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: A firm's productivity is composed of two parts: pure technical change and location-specific (agglomeration) externalities. Regional productivity is thus an aggregation of productivity of firms producing similar goods and located in a given region. International trade can affect both components of regional productivity. First, trade openness in a closed economy may alter its internal economic geography. Some regions which become more attractive to firms than before gain an advantage over others from integration into global markets. Second, as a competition pressure, trade liberalization forces the least productive firms to exit, resulting in the growth of aggregate productivity in the industry. The three essays presented in this dissertation explore the relationship between international trade and regional productivity in the presence of heterogeneous firms. In the first essay, a theoretical framework is introduced in order to describe how the above two channels, through which trade affects regional productivity, shape a country's spatial distribution of productivity. Results show that industries, each having its own cost-minimizing location, can be spatially relocated within a country via heterogeneous trade liberalization across industries. Moreover, trade intensifies localization for each industry since most firms in an industry move to or gather around their industry-specific cost- minimizing location. The consequent clustering of firms generates additional localization economies. More importantly, the intensification of localization economies can slow or delay the selection process, i.e. exit of low productivity firms, following trade liberalization. These findings suggest that trade openness induces significant industrial and spatial dynamics (entry, exit and survival) within an economy. The second and third essays are empirical tests on the second channel through which trade openness affects regional productivity using county-level data from Korea and firm-level data from India, respectively. In addition to trade liberalization, regional infrastructure is considered to be another competition pressure for domestic firms, i.e. improved infrastructure in a region induces a similar selection process among firms. These empirical essays investigate the effect of falling trade costs and improving domestic infrastructure on the regional variation of raw productivity using a common methodology. That is, a spatial econometric procedure is applied to a production function framework to estimate total factor productivity (TFP) by region and industry, while controlling for potential external and spatial effects. The mean and alternative percentiles of the regional raw productivity distribution are then specified as functions of international and domestic competition indicators. International competition is represented by trade costs, which are estimated as frictions in a gravity-type trade model, while road density is considered to capture the level of a region's infrastructure. In both Korea and India, it is found that trade costs reduction significantly shifted to the right, particularly the 10th percentile value of, the regional productivity distribution. However, a change in the level of infrastructure appears to bring about a higher change in regional productivity relative to a change in the international competition level. Therefore, the relative contribution of trade costs and infrastructure to regional productivity should be evaluated with attention to the costs underlying these options for regional development.
Book Synopsis Essays in International Trade by : Jong Hyun Chung
Download or read book Essays in International Trade written by Jong Hyun Chung and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three essays in international trade. The first chapter explores the consequences of firm-level resource misallocation on the gains from trade liberalization. While the standard trade models explain observed firm heterogeneity with variance in firms' innate productivity, discriminatory policies and political connections may also affect the firm size and generate resource misallocation across firms. In this chapter, I show that the productivity heterogeneity alone cannot adequately explain the observed firm-level patterns in Chinese manufacturing sector. I document that larger firms exhibit lower average revenue productivity, revenue productivity variance is high conditional on firm size, and larger exporters exhibit lower export intensity. Introducing firm-level misallocation can help reconcile these facts and doing so matters for estimating the gains from trade. The misallocation model predicts the size of gains from trade that is 45\% lower than the standard model predicts when both models are calibrated with the same Chinese manufacturing data. The result suggests that accounting for firm level heterogeneity in the dimensions other than productivity is important when estimating the gains from trade. The second chapter, a joint work with Antoine Berthou (Banque de France), Kalina Manova (University College London), and Charlotte Sandoz (IMF), examines the impact of international trade on aggregate welfare and productivity. We show theoretically and numerically that bilateral and unilateral export liberalizations increase aggregate welfare and productivity, while unilateral import liberalization can either raise or reduce them. However, all three trade reforms have ambiguous effects in the presence of resource misallocation across heterogeneous firms. Using unique new data on 14 European countries and 20 manufacturing industries during 1998-2011, we empirically establish that exogenous shocks to both export demand and import competition generate large aggregate productivity gains. We develop a precise mapping between theory and empirics, and provide evidence for the adjustment mechanisms. First, both trade aspects increase average firm productivity, but export expansion also reallocates activity towards more productive firms, while import penetration acts in reverse. Second, both export and import exposure raise the productivity threshold for survival, but the latter is not a summary statistic for aggregate productivity. Finally, efficient institutions, factor and product markets amplify the productivity gains from import competition, but dampen those from export expansion. We conclude that the effects of globalization operate through firm selection and reallocation in the presence of resource misallocation. The third chapter studies the role of production chain on the patterns of international trade. Theory suggests that if producing a final product requires a sequence of production stages, and a mistake occurring at any stage destroys the product, then countries with higher productivity has comparative advantage in later stages of production chain, where the cost of mistake is higher. Despite this prediction, I combine international trade data with country and sector level data to show that more developed countries specialize in earlier stages, once other sources of comparative advantage have been considered. This result suggests that quality control is potentially an important factor in country's specialization along production chains -- when mistakes are imperfectly observed, countries with better ability to observe mistakes would specialize in more upstream sectors.
Book Synopsis Three Essays on the Role of Heterogeneity in Industrial Organization, International Trade, and Environmental Economics by : Xin Zhao
Download or read book Three Essays on the Role of Heterogeneity in Industrial Organization, International Trade, and Environmental Economics written by Xin Zhao and published by . This book was released on 2017 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three studies on trade, industrial organization, and environmental economics. The first study investigates endogenous cartel formation with market entry and firm heterogeneity. We show why large firms do not join a cartel in some industries and choose to compete rather than cooperate with a cartel. We illustrate that, under certain conditions, only firms with intermediate productivity benefit from joining a cartel; and low-productive firms cannot compete efficiently for production quota in the cartel and hence choose to stay out. High-productive firms prefer to stay out because building excess capacity in cartel lowers their profits.
Book Synopsis Essays on International Trade, Productivity, and Growth by : Leilei Shen
Download or read book Essays on International Trade, Productivity, and Growth written by Leilei Shen and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Heterogeneous Firms in International Economics by : Konstantinos Costas Arkolakis
Download or read book Essays on Heterogeneous Firms in International Economics written by Konstantinos Costas Arkolakis and published by . This book was released on 2007 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Macroeconomics and International Economics by : Mu-Jeung Yang
Download or read book Essays in Macroeconomics and International Economics written by Mu-Jeung Yang and published by . This book was released on 2012 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation analyzes the interaction of firm level heterogeneity and selection. This selection can encompass either the survival of firms in the market, or their participation in international trade. In the first part I concentrate on the question of how large the aggregate productivity losses from the misallocation of resources across firms are. If firm exit is endogenous, micro-frictions can induce extensive margin misallocation: inefficient firms continue to survive (Zombies) and efficient firms are forced to exit (Shadows). I develop and estimate a fully specified model with plant-level micro-data to quantify extensive margin misallocation. This method allows me to identify Zombie firms, estimate the efficiency distribution of Shadow firms and calculate aggregate Total Factor Productivity (TFP) gains when Zombies are replaced by Shadows. Estimates for Indonesia show that extensive margin misallocation can increase aggregate TFP losses from micro-distortions by over 40%. Compared to existing estimates aggregate TFP losses from micro-distortions are 50-100% higher. In the second part of the dissertation I trace out the implications of a simplified version of the framework I developed in the first part to questions of international trade. The cross-country comparisions in measured micro-distortions suggest that differences in firm heterogeneity could be potentially important to explain aggregate TFP and therefore also trade patterns. I consequently develop a tractable multi-country general equilibrium model of such differences in firm level heterogeneity across countries. I show how the model naturally links measured trade frictions to national firm-efficiency distributions and endogenously generates asymmetries in trade flows in the absence of asymmetric trade frictions. The model is able to generate key stylized facts, specifically the absence of a strong negative relationsship of firm-size dispersions and internal trade shares as predicted by the standard heterogeneous firm trade model with identical efficiency dispersions across countries.
Book Synopsis Essays in International Trade: Firm Heterogeneity and Gravity Applications by : Sonali Chowdhry
Download or read book Essays in International Trade: Firm Heterogeneity and Gravity Applications written by Sonali Chowdhry and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Firm Heterogeneity and Regional Development by : Hisamitsu Saito
Download or read book Three Essays on Firm Heterogeneity and Regional Development written by Hisamitsu Saito and published by . This book was released on 2008 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this dissertation is to theoretically and empirically examine the role of firm heterogeneity in terms of productivity and skill-intensity in the agglomeration process and the effect of agglomeration on regional economic development. In the first essay, I analyze the effect of trade liberalization on agglomeration of high- and low-productivity firms and the consequences for regional economic development. By extending a new-economic-geography model, I find that competition, domestic and international, disperses low-productivity firms to less-developed regions. Trading with advanced countries also appears to bring about dispersion of economic activity. However, attempts by less-developed regions to provide monetary incentives are less likely to attract high-productivity firms. In the second essay, I empirically test the hypothesis that high-productivity (exporting) plants in Chile self-select to locate in large markets. Plants' raw productivity, i.e., productivity independent of agglomeration economies, is computed to obtain regional productivity-distribution measures. I find that high-productivity (exporting) plants indeed locate in a region where other plants in the same industry agglomerate, industrial structure is diversified and market size is large. Finally, plants' self-selection outweighs the contribution of agglomeration economies in increasing a region's productivity. In the third essay, I identify the mechanism by which human-capital spillovers occur at the plant-level and examine the relationship between spillovers and agglomeration of high skill-intensive plants in Chile. I employ plant-level production functions incorporating the absorptive capacity hypothesis, i.e., high skill-intensive plants benefit more from human-capital spillovers than others. Empirically, in 5 out of 8 manufacturing industries, the benefit from spillovers is larger in high skill-intensive plants. Plant entry and exit are also affected by spillovers resulting in regional skill disparities. The results of the three essays reveal locational preferences of various types of firms. Policy options for economic development through increases in regional productivity include specializing in targeted industry, diversifying regional industrial structure, enlarging the market size and workforce education. The results of this dissertation help local governments to evaluate of the benefits from each policy option, which when compared with their knowledge of costs, aid in the selection of an effective policy to improve regional well-being.
Book Synopsis Three Essays on Firm Organization and Trade by : Grigorios Spanos
Download or read book Three Essays on Firm Organization and Trade written by Grigorios Spanos and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Firms and International Trade by : Alvaro Felipe Garcia Marin
Download or read book Essays on Firms and International Trade written by Alvaro Felipe Garcia Marin and published by . This book was released on 2014 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation empirically examines three different questions related to the behavior and performance of firms participating of international trade. In the first essay, I ask whether exporting allows firms to charge higher markups. To study this question, I use a unique dataset of Chilean manufacturing firms that contains product-level data on the price and average cost for all goods produced and exported. This allows me to compute direct markup measures, and to identify whether markups variation is accounted by different pricing policies or changes in the production cost. Although within firms the export markup premium is moderate -about 2%-, the study of the trajectories of markups before and after export entry reveals the presence of ongoing gains after export entry. While at the moment of export entry the markup of exported products is not different than the markup of domestic products, three periods after export entry the markup wedge increases to about 7-9%. A decomposition of the markup premium reveals that, within firms, the higher markups on exported products is accounted by both higher prices and marginal cost. In contrast, after export entry, prices and average cost tend to decrease. In the second essay -based on joint work with Nico Voigtlaender-, we revisit the old question of whether firms become more productive after export entry. While there is strong evidence for productivity-driven selection into exporting, previous research has mostly failed to identify export-related efficiency gains within plants. This non-result is typically derived from revenue productivity, which reflects price variation. Using a census panel of Chilean manufacturing plants, we first confirm the non-result for revenue productivity. We then compute plant-product level marginal cost as an efficiency measure that is not affected by prices. We find within-plant efficiency gains of 15-25%, the same order of magnitude as selection effects across plants. Evidence suggests that technology upgrading in combination with export entry is an important driver behind these gains. The final essay studies firms' quality patterns across destinations, when they produce products in different quality segments. I develop a quality model with non-homothetic quality demand and heterogeneity in consumers' income. The model features quality sorting of consumers according to their income level. This implies that firm's quality allocation depends not only on the average income of the country, but on the entire income distribution of the country. The main prediction of the model is related to the role of income inequality on within-firm quality patters. I find that in countries with a smaller middle classes, firms' tend to skew their exports towards products of higher quality. This effect tends to be weaker in countries with higher income. To illustrate the main predictions of the model, I use a unique dataset from the Chilean wine industry. This dataset allows me to construct measures of product quality, that are not affected by aggregation or markup issues. In line with the model's predictions, I find that firms tend export proportionally more high quality products to more unequal countries. However, I find this effect to be quantitatively important only in low and middle-income countries.
Book Synopsis Essays on International Trade Dynamics by :
Download or read book Essays on International Trade Dynamics written by and published by . This book was released on 2014 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis offers a unified framework to analyze both short- and long-run trade dynamics in a consistent manner. It explains "the international elasticity puzzle", a low trade elasticity against temporary shocks and a high trade elasticity against permanent shocks, studied in Ruhl (2008). The model in this paper extends the idea of export sunk costs and uncertainty to more general productivity shock processes by embedding the classical theory of "export hysteresis" into a continuous-time trade model with heterogeneous firms, and considers the effects of both aggregate and idiosyncratic productivity shocks. A sharp analytical characterization of the equilibrium elucidates the microfoundations of trade dynamics linking a static trade model with heterogeneous firms and an international macroeconomic model. Due to the sunk costs and uncertainty, firms do not change their export status against small temporary shocks. Aggregate productivity shocks and export sunk costs explain the elasticity puzzle because of the different adjustments on the extensive margin. If the productivity shocks are idiosyncratic, the economy is in a steady state, with individual firms moving around within a stationary distribution of productivities. Export hysteresis gives rise to a region of firm productivity where both exporters and non-exporters coexist given the same current productivity. The full model incorporates both types of shocks and offers realistic microfoundations of trade dynamics including simultaneous export entry and exit, an evolving productivity density of exporters, and the sluggish trade response to aggregate shocks. The model can be applied to various other settings where both aggregate and idiosyncratic shocks affect heterogeneous agents' dynamic problems.
Book Synopsis Essays on International Trade by : Konstantin Kucheryavyy
Download or read book Essays on International Trade written by Konstantin Kucheryavyy and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three chapters.Chapter 1 is devoted to a theoretical analysis of the interaction between comparative advantage and international risk sharing in the presence of uninsured total factor productivity shocks (TFP). The overwhelming consensus in the theoretical literature is that access to international risk sharing in the presence of uninsured TFP shocks induces a country to specialize more in its comparative advantage industries. In Chapter 1 of my dissertation I demonstrate that the effect of financial integration on production patterns depends on preferences and on the structure of the variance-covariance matrix of TFP shocks present in the economy. Using a variant of the standard 2x2 Ricardian model with TFP shocks by Helpman and Razin (1978), I show that if TFP shocks affect each industry in all countries the same way, the standard assumption, then financial integration indeed leads to a more specialized production structure. However, if shocks are not correlated across countries and affect all industries in a country the same way, then the effect of financial integration is ambiguous. I also show that in the absence of international risk sharing the Helpman-Razin model generally has (discrete) multiple equilibria - an overlooked phenomenon. I build a framework with a continuum of goods in the spirit of Eaton-Kortum and show how the multiple equilibria can be numerically bounded. Using this framework I explore the welfare effects of financial integration through its impact on the production structure. This work can be seen as a first attempt to bring together the discussion of international risk sharing and trade in the context of quantitative trade models of comparative advantage.Chapter 2 is a joint work with Gary Lyn and Andres Rodriguez-Clare. This Chapter studies the implications for trading economies of industry-level external economies of scale, also known as Marshallian externalities. This fundamental question has received little attention in the recent trade literature because of the large number of equilibria that typically occur in trade models with Marshallian externalities. In this work we build a version of such a model that yields a unique equilibrium and a standard gravity equation. The underlying structure of our model is isomorphic to that of a multi-industry Krugman model of firm-level economies of scale and so our uniqueness result extends to this setting as well. The welfare analysis reveals that if the conditions for uniqueness are satisfied then all countries gain from trade even when the strength of scale economies varies across industries. Moreover, the presence of scale economies tends to decrease the gains from trade but increase the gains from trade liberalization.Chapter 3 is devoted to a theoretical analysis of a model with a nested constant elasticity of substitution utility function and heterogeneous firms involved in price competition. Models of this type have become popular in the international trade literature in recent years. I show the continuity of the model as the elasticity of substitution between goods goes to infinity. This result contrasts with the conjecture of prior literature. Continuity of the model ensures consistency of its outcomes when the elasticity of substitution approaches infinity. Therefore, researchers who were reluctant to use this model because of the lack of proof of continuity can now rely on the result of my work to employ the model in their research.