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1、JournalofInternationalEconomics86(2012)43–56ContentslistsavailableatSciVerseScienceDirectJournalofInternationalEconomicsjournalhomepage:www.elsevier.com/locate/jieTradeandpriceswithheterogeneousfirms☆RobertC.JohnsonDepartmentofEconomics,DartmouthCollege,UnitedStatesarticleinf
2、oabstractArticlehistory:Thispaperestimatesaheterogeneousfirmstrademodelusingsectorleveldataonexportparticipation,tradeReceived18June2010flows,andunitvaluepricesinamulti-countrysetting.Examiningwithin-exportervariationinpricesacrossReceivedinrevisedform14September2011destinatio
3、ns,pricesareincreasinginthedifficultyofenteringthedestinationmarketinthemajorityofAccepted15September2011sectors.ThispatternisconsistentwithmodelsinwhichproductqualityispositivelycorrelatedwithfirmAvailableonline22September2011size.However,pricesdecreaseinexportthresholdsinsom
4、elargesectors,includingautos,apparel,andelectronics.Idiscussthecausesandconsequencesofthiscross-sectorheterogeneity.FromanaccountingJELclassification:F1perspective,selectionintoexportingexplainsasmallfractionofoverallpricevariation,butaccountsfornear-F12lyhalfofvariationinbil
5、ateraltrade.F14©2011ElsevierB.V.Allrightsreserved.Keywords:HeterogeneousfirmsExportpricesProductquality1.Introductionmixoffirmsexportingchangesacrossdestinations,withmostfirmsexportingtoeasy-to-entermarketsandonlythelargest,mostprofit-Heterogeneousfirmstrademodelsgeneraterichpred
6、ictionsforablefirmsabletoexporttohard-to-entermarkets.Ifoutputpricesarethejointbehaviorofparticipationinbilateraltrade,tradeflows,andcorrelatedwithfirmsize,thenaverageexportpriceswillalsovaryexportprices.Yet,fewhaveexaminedthesethreedimensionsofag-acrossmarkets.Iflargefirmshavel
7、owpricesrelativetosmallfirms,gregatetradedatasimultaneously,particularlyforawiderangeofthenaveragepriceswilltendtobelowerforexportstohard-to-countriesorindustrialsectors.Thispaperaddressesthisgapbyesti-entermarkets.Iflargefirmshaverelativelyhighprices,theoppositematingaheterog
8、eneousfirmsmodelusingsectorleveldataonpartic-holds.Thus,thecorrelationofaver
