Home market effects and increasing returns with non-constant marginal costs
重新审视了规模报酬递增在贸易和经济地理理论中的作用,通过引入非恒定边际成本和非齐次生产因素,分析了本地市场效应在不同国家规模下的表现。
Abstract We reexamine the role of increasing returns in production, central to trade and economic geography theories, focusing on the home market effect. We extend the conventional multi-industry new trade model to introduce (1) nonconstant marginal costs and (2) nonhomothetic production in factors. If factors that are more (less) intensively used in fixed costs than variable costs also have higher relative prices in large countries compared to small countries, then large countries exhibit larger (smaller) firm sizes and specialize in industries with decreasing (increasing) marginal costs. Notably, different levels of fixed costs have a limited impact on these patterns.