Firms_in_International_Trade_jep2007

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1、1FirmsinInternationalTradeAndrewB.BernardTuckSchoolofManagementatDartmouth&NBERJ.BradfordJensenPetersonInstituteforInternationalEconomicsStephenJ.ReddingLondonSchoolofEconomics&CEPRPeterK.SchottYaleSchoolofManagement&NBERApril2007AbstractDespitethefactthatimportingandexportin

2、gareextremelyrarefirmactivities,economistsgenerallydevotelittleattentiontotheroleoffirmswhendiscussinginternationaltrade.Thispapersummarizeskeydifferencesbetweentradingandnon-tradingfirms,demonstrateshowthesedifferencespresentachallengetostandardtrademodelsandshowshowrecent“h

3、eterogeneous-firm”modelsofinternationaltradeaddressthesechallenges.Wethenmakeuseoftransaction-levelU.S.tradedatatointroduceanumberofnewstylizedfactsaboutfirmsandtrade.Thesefactsrevealthattheextensivemarginsoftrade–thatis,thenumberofproductsfirmstradeaswellasthenumberofcountri

4、eswithwhichtheytrade–arecentraltounderstandingthewell-knownroleofdistanceindampeningaggregatetradeflows.1Bernard,Jensen,andSchottthanktheNationalScienceFoundation(SES-0241474,SES-0552029andSES-0550190)andReddingthanksPrincetonUniversityandtheCentreforEconomicPerformance(CEP)f

5、orresearchsupport.WearegratefultoJimDavisoftheCensusBureaufortimelydisclosureofourdataanalysisandtoJimTybout,JimHinesandtheJEPeditorialboardforextremelyhelpfulcommentsandsuggestions.TheresearchinthispaperwasconductedwhileBernard,JensenandSchottwereSpecialSwornStatusresearcher

6、softheU.S.CensusBureauattheBostonResearchDataCenter,NewYorkResearchDataCenter,andCenterforEconomicStudies.WethanktheNSFforinfrastructuregrantsthatsupportCensusResearchDataCenters(SES-0550190andITR-0427889).Researchresultsandconclusionsexpressedarethoseoftheauthorsanddonotnece

7、ssarilyreflecttheviewsoftheCensusBureau,theNBER,oranyotherinstitutiontowhichtheauthorsareaffiliated.1FirmsinInternationalTradeIndiscussingtheoriginsandimplicationsofinternationaltrade,economistsemphasizecomparativeadvantage,increasingreturnstoscaleandconsumerloveofvarietybutp

8、ayrelativelylittleattentiontothefirmsthatactuallydrivetradeflows.Yet