Entry, Trade, and Exporting over the Cycle
研究了国际贸易和出口如何影响企业创建（新企业进入）的周期性波动，发现贸易使企业进入呈现顺周期特征，而无贸易时则呈弱逆周期且过于平滑。
Abstract We study how international trade and exporting affect the cyclicality of establishment creation. We build a general equilibrium model with two features: (i) new establishments start small and grow gradually and (ii) exporters are persistently bigger and more productive than nonexporters. When establishments creation costs fluctuate with aggregate productivity, the model generates procyclical fluctuations in domestic establishments and importers. Without international trade, entry is weakly countercyclical and too smooth. The model generates reasonable fluctuations in the stock of importers, exporters, and domestic establishments. With an entry margin, output is hump‐shaped following a productivity shock and this hump is stronger with trade.