Pricing-to-Market, Trade Costs, and International Relative Prices
构建了一个包含不完全竞争和可变加价的国际贸易模型，发现当模型参数匹配美国贸易和市场结构数据时，企业按市场定价的行为能解释实际中购买力平价的系统性偏离，并考察了贸易成本和市场结构特征对这种偏离的影响。
International relative prices across industrialized countries show large and systematic deviations from relative purchasing power parity. We embed a model of imperfect competition and variable markups in a quantitative model of international trade. We find that when our model is parameterized to match salient features of the data on international trade and market structure in the United States, it can reproduce deviations from relative purchasing power parity similar to those observed in the data because firms choose to price-to-market. We then examine how pricing-to-market depends on the presence of international trade costs and various features of market structure.