Markups and Firm-Level Export Status

• 成果类型: Article
• 署名作者: De Loecker, Jan; Warzynski, Frederic
• 署名单位: Princeton University; National Bureau of Economic Research; Aarhus University
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.102.6.2437
• 发表日期: 2012
• 页码: 2437-2471
• 关键词: UNITED-STATES; product differentiation; imperfect competition; Scale economies; marginal cost; panel-data; TRADE; price; industry; inputs

摘要

In this paper, we develop a method to estimate markups using plant-level production data. Our approach relies on cost-minimizing producers and the existence of at least one variable input of production. The suggested empirical framework relies on the estimation of a production function and provides estimates of plant-level markups without specifying how firms compete in the product market. We rely on our method to explore the relationship between markups and export behavior. We find that markups are estimated significantly higher when controlling for unobserved productivity; that exporters charge, on average, higher markups and that markups increase upon export entry. (JEL D22, D24, F14, L11, L60)