melitz论文讲解

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1、Melitz(2003)Outline1.Summary2.setupofthemodel3.FirmEntryandExit4.Closed-economyEqlm6.Open-economyEqlm7.ImpactofTrade8.Conclusions5.OverviewandassumptionoftheopeneconomymodelMelitz(2003)Summary1.Themodelshowshowtheexposuretotradewillinduceonlythemoreproductivefirmstoentertheexportmarke

2、t(whilesomelessproductivefirmstocontinuetoproduceonlyforthedomesticmarket)andwillforcetheleastproductivefirmstoexit.2.Itthenshowshowfurtherincreasesintheexposuretotradeleadtoadditionalinter-firmreallocationstowardsmoreproductivefirms.3.Thepaperalsoshowshowtheaggregateindustryproductiv

3、itygrowthgeneratedbythereallocationscontributestoawelfaregain,thushighlightingabenefitfromtradethathasnotbeenexaminedtheoreticallybefore.SummaryThepaperdevelopsadynamicindustrymodelwithheterogeneousfirmstoanalyzetheintra-industryeffectsofintltrade.Rigorousempiricalworkhasrecentlycorro

4、boratedthisanecdotalevidence.BernardandJensen(1999a)(fortheU.S.)Aw,Chung,andRoberts(2000)(forTaiwan),Clerides,Lack,andTybout(1998)(forColombia,Mexico,andMorocco)allfindevidencethatmoreproductivefirmsself-selectintoexportmarkets.Aw,Chung,andRoberts(2000)alsofindevidencesuggestingthatex

5、posuretotradeforcestheleastproductivefirmstoexit.Pavcnik(2002)directlylooksatthecontributionofmarketsharereallocationstosectoralproductivitygrowthfollowingtradeliberalizationinChile.Shefindsthatthesereallocationssignificantlycontributetoproductivitygrowthinthetradablesectors.Inarelate

6、dstudy,BernardandJensen(1999b)findthatwithinsectormarketsharereallocationstowardsmoreproductiveexportingplantsaccountsfor20%ofU.S.manufacturingproductivitygrowth.Melitz(2003)ThepaperadaptsHopenhayn's(1992a)dynamicindustrymodeltomonopolisticcompetitioninaequilibriumsetting.general(Hope

7、nhayn's(1992a,1992b)worktoexplaintheendogenousselectionofheterogeneousfirmsinanindustry;Hopenhaynonlyconsiderscompetitivefirms)thepaperprovidesanextensionofKrugman's(1980)trademodelthatincorporatesfirmlevelproductivitydifferences.SummaryMelitz(2003)5Melitz(2003)2.1DemandPreferences:CE

8、Sutil