Replication data for: Welfare and Trade without Pareto
Principal Investigator(s): View help for Principal Investigator(s) Keith Head; Thierry Mayer; Mathias Thoenig
Version: View help for Version V1
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| P2014_1126_data | 10/11/2019 10:13:PM | ||
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text/plain | 14.6 KB | 10/11/2019 06:13:PM |
Project Citation:
Head, Keith, Mayer, Thierry, and Thoenig, Mathias. Replication data for: Welfare and Trade without Pareto. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112789V1
Project Description
Summary:
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Quantifications of gains from trade in heterogeneous firm models assume that productivity is Pareto distributed. Replacing this assumption with log-normal heterogeneity retains some useful Pareto features, while providing a substantially better fit to sales distributions-especially in the left tail. The cost of log-normal is that gains from trade depend on the method of calibrating the fixed cost and productivity distribution parameters. When set to match the size distribution of firm sales in a given market, the log-normal assumption delivers gains from trade in a symmetric two-country model that can be twice as large as under the Pareto assumption.
Scope of Project
JEL Classification:
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C46 Specific Distributions; Specific Statistics
D24 Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
D43 Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection
D60 Welfare Economics: General
L13 Oligopoly and Other Imperfect Markets
L25 Firm Performance: Size, Diversification, and Scope
C46 Specific Distributions; Specific Statistics
D24 Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
D43 Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection
D60 Welfare Economics: General
L13 Oligopoly and Other Imperfect Markets
L25 Firm Performance: Size, Diversification, and Scope
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