Competition, Markups, and the Gains from International Trade
研究了国际贸易如何通过内生变化的加成率减少加成扭曲，发现当存在大量资源错配且贸易使主导企业面临更大竞争压力时，贸易能显著降低加成扭曲，台湾企业数据验证了这一点。
We study the procompetitive gains from international trade in a quantitative model with endogenously variable markups. We find that trade can significantly reduce markup distortions if two conditions are satisfied: (i) there is extensive misallocation, and (ii) opening to trade exposes hitherto dominant producers to greater competitive pressure. We measure the extent to which these two conditions are satisfied in Taiwanese producer-level data. Versions of our model consistent with the Taiwanese data predict that opening up to trade strongly increases competition and reduces markup distortions by up to one-half, thus significantly reducing productivity losses due to misallocation.