Optimal Choice Of Product Scope For Multiproduct Firms Under Monopolistic Competition

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Optimal Choice of Product Scope for Multiproduct Firms Under Monopolistic Competition

Author : Robert C. Feenstra
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (191 download)

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Book Synopsis Optimal Choice of Product Scope for Multiproduct Firms Under Monopolistic Competition by : Robert C. Feenstra

Download or read book Optimal Choice of Product Scope for Multiproduct Firms Under Monopolistic Competition written by Robert C. Feenstra and published by . This book was released on 2007 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we develop a monopolistic competition model where firms exercise their market power across multiple products. Even with CES preferences, markups are endogenous. Firms choose their optimal product scope by balancing the net profits from a new variety against the costs of "cannibalizing" their own sales. With identical costs across firms, opening trade leads to fewer firms surviving in each country but more varieties produced by each of those firms. With heterogeneous costs, the number of firms surviving in equilibrium is quite insensitive to the market size. When trade is opened, more firms initially enter, but the larger market size reduces the cannibalization effect and expands the optimal scope of products. As a result, the less efficient firms exit, and the larger market is accommodated by more efficient firms that produce more varieties per firm on average.

Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification

Author : Carlos Carvalho
Publisher : International Monetary Fund
ISBN 13 : 148430702X
Total Pages : 44 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification by : Carlos Carvalho

Download or read book Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification written by Carlos Carvalho and published by International Monetary Fund. This book was released on 2017-06-30 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Product scope adjustment is a key mechanism through which multi-product firms achieve efficient resource allocations. In this paper, we take a novel perspective to study firms’ product scope adjustment behavior through the lens of asset pricing. Using a unique panel scanner data set containing detailed information on products, matched with the financial information of their manufacturers, we find that multi-product firms with higher product turnover have lower financial risks and lower risk premia. To understand this channel, we propose a stylized model with a time-dependent (Calvo-type) product turnover rate to highlight the ’risk absorption channel’ of product scope adjustment. In response to an economy-wide shock, a firm that can adjust its product scope more flexibly shows lower excess equity returns and lower asset volatility.

The Organization of Firms in a Global Economy

Author : Dalia Marin
Publisher : Harvard University Press
ISBN 13 : 0674038541
Total Pages : 367 pages
Book Rating : 4.6/5 (74 download)

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Book Synopsis The Organization of Firms in a Global Economy by : Dalia Marin

Download or read book The Organization of Firms in a Global Economy written by Dalia Marin and published by Harvard University Press. This book was released on 2009-06-30 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a new research program that is transforming the study of international trade. Until a few years ago, models of international trade did not recognize the heterogeneity of firms and exporters, and could not provide good explanations of international production networks. Now such models exist and are explored in this volume.

Handbook of International Economics

Author : Gita Gopinath
Publisher : Elsevier
ISBN 13 : 0444543155
Total Pages : 773 pages
Book Rating : 4.4/5 (445 download)

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Book Synopsis Handbook of International Economics by : Gita Gopinath

Download or read book Handbook of International Economics written by Gita Gopinath and published by Elsevier. This book was released on 2014-02-22 with total page 773 pages. Available in PDF, EPUB and Kindle. Book excerpt: What conclusions can be drawn from recent advances in international trade and international macroeconomics? New datasets, theoretical models, and empirical studies have resulted in fresh questions about the world trade and payment system. These chapters--six on trade and six on international macroeconomics--reveal the richness that researchers have uncovered in recent years. The chapters on foreign trade present, among other subjects, new integrated multisector analytical frameworks, the use of gravity equations for the estimation of trade flows, the role of domestic institutions in shaping comparative advantage, and international trade agreements. On international macroeconomics, chapters explore the relation between exchange rates and other macroeconomic variables; risk sharing, allocation of capital across countries, and current account dynamics; and sovereign debt and financial crises. By addressing new issues while enabling deeper and sharper analyses of old issues, this volume makes a significant contribution to our understanding of the global economy. Systematically illuminates and interprets recent developments in research on international trade and international macroeconomics Focuses on newly developing questions and opportunities for future research Presents multiple perspectives on ways to understand the global economy

Firm Heterogeneity and Multiproduct Firms in International Trade

Author : Hong Ma
Publisher :
ISBN 13 :
Total Pages : 300 pages
Book Rating : 4.:/5 (83 download)

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Book Synopsis Firm Heterogeneity and Multiproduct Firms in International Trade by : Hong Ma

Download or read book Firm Heterogeneity and Multiproduct Firms in International Trade written by Hong Ma and published by . This book was released on 2009 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Product Variety Management

Author : Teck-Hua Ho
Publisher : Springer Science & Business Media
ISBN 13 : 1461555795
Total Pages : 247 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Product Variety Management by : Teck-Hua Ho

Download or read book Product Variety Management written by Teck-Hua Ho and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Product proliferation has become a common phenomenon. Most companies now offer hundreds, if not thousands, of stock keeping units (SKUs) in order to compete in the market place. Companies with expanding product and service varieties face with problems of obtaining accurate demand forecasts, controlling production and inventory costs, and providing high quality and good delivery performance for the customers. Marketing managers often advocate widening product lines for increasing revenue and market share. However, the breadth of product line can also decrease the efficiency of manufacturing processes and distribution systems. Thus firms must weigh the benefits of product variety against its cost in order to determine the optimal level of product variety to offer to their customers. Academics and practitioners are interested in several fundamental questions about product variety. For instance, why do companies extend their product lines? Do consumers care about product variety? Will a brand with more variety enjoy higher market share? How should product variety be measured? How can a company exploit its product and process design to deliver a higher level of product variety quickly and cheaply? What should the level of product variety be and what should the price of each of the product variants be? What kind of 'challenges would a company face in offering a high level of product variety and how can these obstacles be overcome? The solutions to these questions span multiple functions and disciplines.

Trade, Globalization and Development

Author : Rajat Acharyya
Publisher : Springer Science & Business Media
ISBN 13 : 8132211510
Total Pages : 220 pages
Book Rating : 4.1/5 (322 download)

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Book Synopsis Trade, Globalization and Development by : Rajat Acharyya

Download or read book Trade, Globalization and Development written by Rajat Acharyya and published by Springer Science & Business Media. This book was released on 2013-06-18 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was written in honour of Professor Kalyan K. Sanyal, who was an excellent educator and renowned scholar in the field of international economics. One of his research papers co-authored with Ronald Jones, entitled “The Theory of Trade in Middle Products” and published in American Economic Review in 1982, was a seminal work in the field of international trade theory. This paper would go on to inspire many subsequent significant works by researchers across the globe on trade in intermediate goods. The larger impact of any paper, beyond the number of citations, lies in terms of the passion it sparks among younger researchers to pursue new questions. Measured by this yardstick, Sanyal’s contribution in trade theory will undoubtedly be regarded as historic. After completing his Ph.D. at the University of Rochester he joined the Department of Economics at Calcutta University in the early 1980s and taught trade theory there for almost three decades. His insights, articulation and brilliance in teaching international economics have influenced and shaped the intellectual development of many of his students. After his sudden passing in February 2012, his students and colleagues organized a symposium in his honour at the Department of Economics, Jadavpur University from April 19 to 20, 2012. This book, a small tribute to his intellect and contribution, has been a follow-up on that endeavour, and a collective effort of many people including his teachers, friends, colleagues and students. In a nutshell it discusses intermediation of various kinds with significant implications for market integration through trade and finance. That trade can generate many non-trade-service sector links has recently emerged as a topic of growing concern and can trace its lineage back to the idea of the middle product, a recurring concept in Prof. Sanyal’s work.

Developments in Global Sourcing

Author : Wilhelm Kohler
Publisher : MIT Press
ISBN 13 : 0262345188
Total Pages : 417 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis Developments in Global Sourcing by : Wilhelm Kohler

Download or read book Developments in Global Sourcing written by Wilhelm Kohler and published by MIT Press. This book was released on 2018-02-16 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical and empirical perspectives on the fragmentation of production processes across borders, shedding light on global sourcing decisions and their economic effects. Recent decades have seen a fragmentation of production processes across borders, as firms find it increasingly profitable to organize production on a global scale. This fragmentation occurs across national borders as well as across firm boundaries; companies must decide not only the location of production but also how much control to exert over the different production stages. Economists have responded to this shift by developing new models of global sourcing, generating important insights into the driving forces and economic effects of this new form of globalization. Many questions, however, remain unanswered. This book tries to fill this gap. The contributors ask new questions or offer new modeling approaches to fragmentation of production, focusing in particular on time and uncertainty. They examine global sourcing in firms' multinationalization strategies, including offshoring, product scope, managerial incentives, supplier search, and contractual issues; and explore the interactions of global sourcing, exports, and economic development, investigating such topics as the complementarity of offshoring and exporting, product diversification, and the relationship between vertical linkages and development. Each chapter presents recent research that further develops existing models or documents new empirical patterns related to global sourcing. Contributors Pol Antràs, Sasan Bakhtiari, Sebastian Benz, Giuseppe Berlingieri, Johannes Boehm, Jeronimo Carballo, Huiya Chen, Alejandro Cuñat, Fabrice Defever, Swati Dhingra, Harald Fadinger, Ana P. Fernandes, Christian Fischer, Wilhelm Kohler, Bohdan Kukharskyy, Luca Marcolin, Antonio Minniti, John Morrow, Alireza Naghavi, Han (Steffan) Qi, Jens Suedekum, Deborah L. Swenson, Edwin L.-C. Lai, Anders Rosenstand Laugesen, Ngo Van Long, Heiwai Tang, Erdal Yalcin

Advanced International Trade

Author : Robert C. Feenstra
Publisher : Princeton University Press
ISBN 13 : 1400873762
Total Pages : 496 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Advanced International Trade by : Robert C. Feenstra

Download or read book Advanced International Trade written by Robert C. Feenstra and published by Princeton University Press. This book was released on 2015-11-10 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade is a cornerstone concept in economics worldwide. This updated second edition of the essential graduate textbook in international trade brings readers to the forefront of knowledge in the field and prepares students to undertake their own research. In Advanced International Trade, Robert Feenstra integrates the most current theoretical approaches with empirical evidence, and these materials are supplemented in each chapter by theoretical and empirical exercises. Feenstra explores a wealth of material, such as the Ricardian and Heckscher-Ohlin models, extensions to many goods and factors, and the role of tariffs, quotas, and other trade policies. He examines imperfect competition, offshoring, political economy, multinationals, endogenous growth, the gravity equation, and the organization of the firm in international trade. Feenstra also includes a new chapter on monopolistic competition with heterogeneous firms, with many applications of that model. In addition to known results, the book looks at some particularly important unpublished results by various authors. Two appendices draw on index numbers and discrete choice models to describe methods applicable to research problems in international trade. Completely revised with the latest developments and brand-new materials, Advanced International Trade is a classic textbook that will be used widely by students and practitioners of economics for a long time to come. Updated second edition of the essential graduate textbook Current approaches and a new chapter on monopolistic competition with heterogeneous firms Supplementary materials in each chapter Theoretical and empirical exercises Two appendices describe methods for international trade research

Input Trade Liberalization in China

Author : Wei Tian
Publisher : Springer Nature
ISBN 13 : 9819975999
Total Pages : 293 pages
Book Rating : 4.8/5 (199 download)

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Book Synopsis Input Trade Liberalization in China by : Wei Tian

Download or read book Input Trade Liberalization in China written by Wei Tian and published by Springer Nature. This book was released on 2023-12-15 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on input trade liberalization in China and discusses the underlying causes and profound effects of Chinese enterprises facing import liberalization of intermediate input. The content of this book includes ten chapters. The analysis of this book mainly uses academic research, with policy study for a few chapters. Most chapters in this book apply the standard method of contemporary economic systems, integrating into the most advanced economic theories of international trade. The author uses theoretical models to obtain predictions which receive empirical support and carries out strict empirical research using data of China's manufacturing enterprises and China's customs to analyze the causes which affect Chinese enterprises facing import liberalization of intermediate input after China’s reform and opening-up. The suggested readership would be the public who are willing to understand the issues closely related to China’s input trade liberalization and opening-up policy, and basic knowledge in economics would be necessary in understanding the academic research part of the book. Meanwhile, this book is also specifically compelling to business persons and policy makers in that it enables deeper understanding on issues about outward foreign investment of enterprises and China’s opening-up policy and facilitates their decision-making process.

Monopolistic Competition, Multiproduct Firms and Optimum Product Diversity

Author : Gianmarco I. P. Ottaviano
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.X/5 (6 download)

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Book Synopsis Monopolistic Competition, Multiproduct Firms and Optimum Product Diversity by : Gianmarco I. P. Ottaviano

Download or read book Monopolistic Competition, Multiproduct Firms and Optimum Product Diversity written by Gianmarco I. P. Ottaviano and published by . This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Production Networks in Southeast Asia

Author : Lili Yan Ing
Publisher : Taylor & Francis
ISBN 13 : 1315406772
Total Pages : 304 pages
Book Rating : 4.3/5 (154 download)

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Book Synopsis Production Networks in Southeast Asia by : Lili Yan Ing

Download or read book Production Networks in Southeast Asia written by Lili Yan Ing and published by Taylor & Francis. This book was released on 2017-02-03 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book answers the recently topical questions of how China’s processed trade affects the trade of Southeast Asia. What is Southeast Asia’s role in Factory Asia, the region’s complex of cross-border supply chains? What is Southeast Asia’s involvement in building or joining production networks in the region? And, most important, how can Southeast Asia increase the value added of its products and improve its competitiveness? This book provides rigorous analysis of how trade policy affects value added, highly disaggregated at the firm and product level, of the six Southeast Asian countries – Indonesia, Malaysia, the Philippines, Singapore and Viet Nam – and combines this with thorough examinations of their trade, industrial and labour policies.

Product Differentiation and Multiproduct Strategies

Author : Marco Di Cintio
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Product Differentiation and Multiproduct Strategies by : Marco Di Cintio

Download or read book Product Differentiation and Multiproduct Strategies written by Marco Di Cintio and published by . This book was released on 2006 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the price-setting behavior of multiproduct firms in a differentiated product market. The structure considered is one where large companies offer either a set of close substitutes (market segmentation) or a set of distant substitutes (market interlacing). The modelling strategy of the paper is to allow for two different elasticities of substitution: the intra-company elasticity of substitution and the inter-company elasticity of substitution. The key feature of the model is the possibility for multiproduct companies to choose their optimal internal organizational structure, according to the relative size of these two parameters. In order to maximize profits, each company may either set prices centrally, or alternatively it may assign an independent product manager to run each division. In other words, product managers of the same company may behave either independently or cooperatively. While the model does not consider either the proliferation or the product-line selection decisions, it deals with multiproduct frms price decisions under oligopolistic competition making use of conjectural variations. Its main purpose has been to provide a micro-founded answer about the question of whether and when a system of independent product managers (decentralized decisions) is better than a mechanism with a centralized general direction. Coordination is always profitable under market segmentation; while under market interlacing, the strategy of relying on independent product managers is profitable when the standard monopolistic competition arises; it may also be profitable with oligopolistic (Bertrand) competition under some assumptions.

Understanding Global Trade

Author : Elhanan Helpman
Publisher : Harvard University Press
ISBN 13 : 0674061012
Total Pages : 233 pages
Book Rating : 4.6/5 (74 download)

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Book Synopsis Understanding Global Trade by : Elhanan Helpman

Download or read book Understanding Global Trade written by Elhanan Helpman and published by Harvard University Press. This book was released on 2011-08-29 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global trade is of vital interest to citizens as well as policymakers, yet it is widely misunderstood. This compact exposition of the market forces underlying international commerce addresses both of these concerned groups, as well as the needs of students and scholars. Although it contains no equations, it is almost mathematical in its elegance, precision, and power of expression. Understanding Global Trade provides a thorough explanation of what shapes the international organization of production and distribution and the resulting trade flows. It reviews the evolution of knowledge in this field from Adam Smith to today as a process of theoretical modeling, accumulation of new empirical data, and then revision of analytical frameworks in response to evidence and changing circumstances. It explains the sources of comparative advantage and how they lead countries to specialize in making products which they then sell to other countries. While foreign trade contributes to the overall welfare of a nation, it also creates winners and losers, and Helpman describes mechanisms through which trade affects a country's income distribution. The book provides a clear and original account of the revolutions in trade theory of the 1980s and the most recent decade. It shows how scholars shifted the analysis of trade flows from the sectoral level to the business-firm level, to elucidate the growing roles of multinational corporations, offshoring, and outsourcing in the international division of labor. Helpman’s explanation of the latest research findings is essential for an understanding of world affairs.

Palgrave Handbook of International Trade

Author : David Greenaway
Publisher : Springer
ISBN 13 : 0230305318
Total Pages : 727 pages
Book Rating : 4.2/5 (33 download)

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Book Synopsis Palgrave Handbook of International Trade by : David Greenaway

Download or read book Palgrave Handbook of International Trade written by David Greenaway and published by Springer. This book was released on 2016-11-09 with total page 727 pages. Available in PDF, EPUB and Kindle. Book excerpt: International trade is the core foundation of globalisation. This current and up-to-date volume brings together the finest academics working in the field today, containing contributions in key areas of policy research, such as, modelling frameworks, trade policy, trade and migration, trade and the environment, trade and unemployment.

The World Bank Economic Review

Author :
Publisher :
ISBN 13 :
Total Pages : 604 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis The World Bank Economic Review by :

Download or read book The World Bank Economic Review written by and published by . This book was released on 2013 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt:

China’s Miracle in Foreign Trade

Author : Miaojie Yu
Publisher : Springer Nature
ISBN 13 : 9811660301
Total Pages : 321 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis China’s Miracle in Foreign Trade by : Miaojie Yu

Download or read book China’s Miracle in Foreign Trade written by Miaojie Yu and published by Springer Nature. This book was released on 2022-01-13 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book mainly focuses on the miracle of China’s foreign trade in the past 40 years from five perspectives: first, it briefly reviews the import substitution strategy China adopted before its opening-up; second, it analyzes the export-oriented strategy that contributes a lot to China’s economic growth since 1980s; third, it discusses the impacts of trade liberalization and China’s participation in WTO on Chinese firms; forth, it addresses the deepening opening-up in the context of global financial crisis; last, it provides policy advice on China’s newly conducted all-around opening-up strategy. By dividing China’s opening-up into five stages, this book offers a comprehensive discussion to understand and analyze the reason, performance and challenge of China’s economic growth from the perspective of foreign trade.