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The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity
This paper develops a dynamic industry model with heterogeneous firms to analyze the intra-industry effects of international trade. The model shows how the exposure to trade will induce only the moreExpand
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Estimating Trade Flows: Trading Partners and Trading Volumes
We develop a simple model of international trade with heterogeneous firms that is consistent with a number of stylized features of the data. In particular, the model predicts positive as well as zeroExpand
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Export Versus FDI with Heterogeneous Firms
Multinational sales have grown at high rates over the last two decades, outpacing the remarkable expansion of trade in manufactures. Consequently, the trade literature has sought to incorporate theExpand
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Market Size, Trade, and Productivity
We develop a monopolistically competitive model of trade with firm heterogeneity—in terms of productivity differences—and endogenous differences in the “toughness” of competition across markets—inExpand
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International Trade and Macroeconomic Dynamics with Heterogeneous Firms
We develop a stochastic, general equilibrium, two-country model of trade and macroeconomic dynamics. Productivity differs across individual, monopolistically competitive firms in each country. FirmsExpand
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Endogenous Entry, Product Variety, and Business Cycles
This paper builds a framework for the analysis of macroeconomic fluctuations that incorporates the endogenous determination of the number of producers and products over the business cycle. EconomicExpand
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Incomplete Contracts and the Product Cycle
I present a model in which the incomplete nature of contracts governing international transactions limits the extent to which the production process can be fragmented across borders. Because ofExpand
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Market Size, Competition, and the Product Mix of Exporters
Recent empirical evidence has highlighted how the export patterns of multi-product firms dominate world trade flows, and how these multi-product firms respond to different economic conditions acrossExpand
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Monetary Policy and Business Cycles with Endogenous Entry and Product Variety
This paper studies the role of endogenous producer entry and product creation for monetary policy analysis and business cycle dynamics in a general equilibrium model with imperfect price adjustment.Expand
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New Trade Models, New Welfare Implications
We show that endogenous firm selection provides a new welfare margin for heterogeneous firm models of trade (relative to homogeneous firm models). Under some parameter restrictions, the tradeExpand
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