作者：Amiti, Mary; Heise, Sebastian
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：Many studies have documented that the sales concentration of U.S. producers has risen in recent decades. In this article, we show that this increase was accompanied by more entry and growth of foreign competitors. Using confidential census data covering the universe of all firm sales in the U.S. manufacturing sector, we find that rising import competition increased concentration among U.S. firms by reallocating sales from smaller to larger U.S. firms and by causing firm exit. However, this inc...
作者：Dearing, Adam; Blevins, Jason R.
作者单位：Cornell University; National Bureau of Economic Research; University System of Ohio; Ohio State University
摘要：We propose a new sequential Efficient Pseudo-Likelihood (k-EPL) estimator for dynamic discrete choice games of incomplete information. k-EPL considers the joint behaviour of multiple players simultaneously, as opposed to individual responses to other agents' equilibrium play. This, in addition to reframing the problem from conditional choice probability (CCP) space to value function space, yields a computationally tractable, stable, and efficient estimator. We show that each iteration in the k...
