International Trade with Indirect Additivity
构建了一个具有间接可加性偏好和异质性企业的一般均衡贸易模型，发现垄断竞争下的加价随企业生产率和目的地人均收入递增，但与人口无关，且贸易自由化的福利收益低于CES偏好模型，差异由平均传递率决定。
We develop a general equilibrium model of trade that features “indirectly additive” preferences and heterogeneous firms. Monopolistic competition generates markups that are increasing in firm productivity and in destination country per capita income, but independent from destination population, as documented empirically. The gains from trade liberalization are lower than in models based on CES preferences, and the difference is governed by the average pass-through. When we calibrate the model so as to match observed pricing-to-market in micro-data, it generates welfare gains that are substantially lower than those predicted by commonly employed frameworks.