U.S. Exports and Multinational Production
建立了一个包含不对称贸易壁垒和生产成本差异的垄断竞争模型，同时估计美国出口和跨国生产方程，发现全球关税消除将使美国出口增加3.0%，跨国生产增加21.7%。
This paper presents a monopolistic competition model of trade and multinational production that incorporates asymmetric trade barriers and international differences in production costs. The model predicts the functional form for the dependence of U.S. exports and multinational production on tariffs, distance, and production costs. To deal with simultaneity, we estimate the nonlinear equations of U.S. exports and multinational production simultaneously. In the estimation, we also include country fixed effects and allow for endogenous location choice by firms. The estimation yields reasonable estimates of the structural parameters, including the elasticity of substitution. Based on the estimates, we then simulate the effects of trade liberalization. We find that the elimination of tariffs worldwide would increase U.S. exports by 3.0% and U.S. multinational production by 21.7%. This large expansion of U.S. overseas production mainly results from an expected increase in the number of U.S. foreign affiliates in response to tariff reductions. Copyright by the President and Fellows of Harvard College and the Massachusetts Institute of Technology.