作者：Fernandes, Ana M.; Klenow, Peter J.; Meleshchuk, Sergii; Pierola, Martha Denisse; Rodriguez-Clare, Andres
作者单位：The World Bank; International Monetary Fund; Inter-American Development Bank; University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：In benchmark trade models that feature a constant trade elastic-ity, bilateral exports vary entirely on the intensive margin (exports per firm) or entirely on the extensive margin (number of firms). Our empirical analysis documents that roughly one-half of this variation occurs along each margin, implying that the trade elasticity is not constant. We estimate a generalized Melitz model with a joint log-normal distribution for firm productivity, fixed costs, and demand shifters. Using exact-hat...
作者：Neiman, Brent; Vavra, Joseph
作者单位：University of Chicago; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR)
摘要：Over the last 15 years, individual households have concentrated their spending on a few preferred products. However, this is not driven by superstar products capturing larger market shares. Instead, households increasingly purchase different products from each other. As a result, aggregate spending concentration has decreased. We develop a model of heterogeneous household demand and use it to conclude that increasing product variety drives these divergent trends. When more products are availab...
