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Productivity and firm selection: quantifying the ‘new’ gains from trade
journal contribution
posted on 2023-06-08, 23:40 authored by Gregory Corcos, Gatto Del, Giordano Mion, Gianmarco I P OttavianoWe discuss how standard computable equilibrium models of trade policy can be enriched with selection effects. This is achieved by estimating and simulating a partial equilibrium model that accounts for a number of real world effects of trade liberalisation: richer availability of product varieties; tougher competition and weaker market power of firms; better exploitation of economies of scale; and, of course, efficiency gains via firms selection. The model is estimated on EU data and then simulated in counterfactual scenarios. Gains from trade are much larger in the presence of selection effects with substantial variability across countries and sectors.
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Publication status
- Published
Journal
Economic JournalISSN
0013-0133Publisher
WileyIssue
561Volume
122Page range
754-798Department affiliated with
- Economics Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2015-12-06Usage metrics
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