Endogenous Market Structures and International Trade: Theory and Evidence
研究了在CES偏好和古诺或伯川德竞争下，市场规模扩大如何导致国内企业退出、价格下降和幸存企业产量增加，并提供了支持该结构关系的经验证据。
Abstract Under constant elasticity of substitution (CES) preferences and Cournot (or Bertrand) competition, a larger market induces exits of domestic firms, lower prices, and larger production of surviving firms because of competition from more foreign firms, even without resorting to the selection effects of Melitz. The elasticity of the number of firms to population decreases with substitutability between goods, and it reaches 0.5 under Cournot competition with homogeneous goods: empirical evidence supports this structural relation against the unitary elasticity of monopolistic competition. The results hold also in a Heckscher–Ohlin model with imperfect competition generating inter‐ and intra‐industry trade due to comparative advantage or comparative preferences.