Innovation, Firm Dynamics, and International Trade
构建一般均衡模型分析贸易成本变化如何影响企业的退出、出口、工艺创新和产品创新决策，发现产品创新会抵消其他决策变化对福利的影响，提示微观证据未必能反映贸易成本变化的总体福利效应。
We present a general equilibrium model of the response of firms' decisions to operate, innovate, and engage in international trade to a change in the marginal cost of international trade. We find that, although a change in trade costs can have a substantial impact on heterogeneous firms' exit, export, and process innovation decisions, the impact of changes in these decisions on welfare is largely offset by the response of product innovation. Our results suggest that microeconomic evidence on firms' responses to changes in international trade costs may not be informative about the implications of changes in these trade costs for aggregate welfare. (c) 2010 by The University of Chicago. All rights reserved.