Extensive and intensive margins and exchange rate regimes
研究了在贸易的集约边际和扩展边际内生的情况下，固定与浮动汇率制度的成本与收益，发现净收益取决于这些边际的水平、波动性及其与消费者偏好的相关性。
Abstract This paper studies the costs and benefits of fixed and flexible exchange rate regimes in the presence of endogenous intensive and extensive margins of trade. The net benefit depends on the levels and volatilities of those margins as well as on their correlation with consumers’ preferences. A fixed exchange rate regime is preferred for sufficiently high labour supply elasticities and lower love for product diversity. Delays between entry and production make fixed exchange rate regimes less attractive.