TRADE POLICY AND MARKET POWER: FIRM-LEVEL EVIDENCE

• 成果类型: Article
• 署名作者: Asprilla, Alan; Berman, Nicolas; Cadot, Olivier; Jaud, Melise
• 署名单位: University of Lausanne; Centre National de la Recherche Scientifique (CNRS); Aix-Marseille Universite; Centre for Economic Policy Research - UK; The World Bank
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.12409
• 发表日期: 2019
• 页码: 1647-1673
• 关键词: pricing-to-market; rate pass-through; nontariff measures; exchange-rates; PROTECTION; markups; prices; restrictiveness; exporters; search

摘要

This article identifies the effect of trade policy on market power through new data and a new identification strategy. We identify market power by observing how exporting firms price discriminate across markets following variations in bilateral exchange rates. Pricing-to-market is prevalent in all countries in our sample, even among small firms, although it is increasing in firm size. More importantly, we find that the effect of nontariff measures (NTMs) is not isomorphic to that of tariffs. Whereas tariffs reduce the market power of foreign firms through rent-shifting effects, NTMs reinforce the market power of nonexiting firms, domestic and foreign alike.