Globalization, Markups, and US Welfare
在垄断竞争模型下估计全球化对加成率的影响，以及加成率变化对美国福利的影响。研究发现1992-2005年间，美国进口份额上升导致加成率下降，产品种类增加，福利提升近1%，其中产品种类和加成率下降各贡献一半。
This paper estimates the impact of globalization on markups, and the effect of changing markups on US welfare, in a monopolistic competition model. We work with symmetric translog preferences, which allow for endogenous markups and firm entry and exit, thereby changing product variety. We find that between 1992 and 2005, US import shares rose and US firms exited, leading to an implied fall in markups, while variety went up because of imports. US welfare rose by nearly 1 percent as a result of these changes, with product variety contributing one-half of that total and declining markups the other half.