The Gains from Input Trade with Heterogeneous Importers

• 成果类型: Article
• 署名作者: Blaum, Joaquin; Lelarge, Claire; Peters, Michael
• 署名单位: Brown University; Universite Paris Saclay; Center for Economic & Policy Research (CEPR); Yale University; National Bureau of Economic Research
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20160426
• 发表日期: 2018
• 页码: 77-127
• 关键词: INTERNATIONAL-TRADE; intermediate inputs; firm performance; PRODUCTIVITY; prices; LIBERALIZATION; markups; unobservables; elasticity; variables

摘要

Firms differ substantially in their participation in foreign input markets. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. We provide a theoretical result that holds in a variety of settings: the firm-level data on value added and domestic expenditure shares in material spending is sufficient to compute the change in consumer prices due to a shock to the import environment. We characterize the bias of approaches that rely on aggregate statistics. In an application to French data, input trade reduces the prices of manufacturing products by 27 percent.