Shadow pricing market access: A trade benefit function approach

• 成果类型: Article
• 署名作者: Chau, Nancy H.; Faere, Rolf
• 署名单位: Cornell University; Oregon State University
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2011.05.011
• 发表日期: 2011
• 页码: 1631-1663
• 关键词: Trade benefit function; Shadow prices of net imports

摘要

Appropriate assessment of the social value of market access is at the core of a broad range of inquiries in trade research. We propose a new approach based on a trade benefit function to obtain the shadow value of net imports. Our approach is in keeping with well-established trade welfare measurement techniques, for the trade benefit function is dual to the standard trade expenditure function. This dual relation further allows for a direct retrieval of the shadow values of net imports from the trade benefit function. The operationality of our approach is demonstrated in a series of applications and simulations. Published by Elsevier Inc.