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1、JournalofInternationalEconomics95(2015)263–273ContentslistsavailableatScienceDirectJournalofInternationalEconomicsjournalhomepage:www.elsevier.com/locate/jieHeterogeneousFirms,Quality,andTrade☆AlexisAntoniadesGeorgetownUniversityarticleinfoabstractArticlehistory:Wepresentasi
2、mpleandtractabletrademodelofheterogeneousfirms,endogenousqualitychoice,andendog-Received7November2013enousmarkups.Akeyfeatureofthemodelisthatcompetitionnotonlylowersthecostcut-offbetweentheReceivedinrevisedform28September2014firmsthatproduceandthosethatexit,butitalsoraisesthes
3、copeforqualitydifferentiation.WithboththeseAccepted4October2014channelspresent,themostproductivefirmsrespondtocompetitionbyraisingquality,prices,andmarkups,Availableonline29October2014whiletheleastproductiveeitherexitorrespondintheexactoppositemanner.Themodelgeneratesaunifiedt
4、heoryandasupply-sideexplanationforanextremelyrichsetofstylizedfactsre-JELclassification:F12latingto(i)productivityheterogeneity,(ii)productqualityheterogeneity,(iii)markupsheterogeneity,(iv)het-O14erogeneityintheresponseoffirmstocompetition,and(v)heterogeneityinthesignandmagni
5、tudeoftheO47correlationsbetweenoutputprices,firmproductivity,size,andproductquality.Inaddition,themodelpredictsthataveragepriceandmarkupsexhibitaU-shaperesponsetocompetitionandthatimportsfromdevelopedKeywords:countrieshavehigherquality,markupsandpriceswhencomparedtoimportsfro
6、mdevelopingcountries.Intra-industrytrade©2015ElsevierB.V.Allrightsreserved.firmheterogeneityqualiltychoicenon-constantmarkupsqualityladders1.Introductionproduct,lowersitselasticityofsubstitution,andallowsthefirmtochargeahighermarkupandprice.Wepresentasimpleandtractabletrademod
7、elofheterogeneousAsinmostheterogeneousfirmstrademodelswithqualitychoice,firmswithendogenousqualitychoiceandnon-constantmarkups.ourmodelpredictsthatmoreproductivefirmshavehighermarketOurobjectiveistwo-fold.First,toprovideaunified,supply-sideexpla-shares,aremorelikelytoexport,anda
8、ccountformostofanation’s1,23nationtoaverybroadsetofstylizedfactsrelatingto:
