Heterogeneous Firms, Factor Productivity and Trade

• 발행기관: 한국무역연구원
• 저자명: Yang-Seung Lee
• 간행물 정보: 『무역연구』제14권 제2호, 143~161쪽, 전체 19쪽
• 주제분류: 경제경영 > 무역학
• 파일형태: PDF
• 발행일자: 2018.04.23

영문 초록

Melitz (2003) showed how trade liberalization induces intra-industry reallocation and enhances average industry productivity through selection effect. In his work, firm productivity playes a major role. However, uncertainty was not taken into account. Our paper will focus on firm productivity under uncertainty. From our view, firm productivity might originate mainly from factor uses and institution. Before market entry, one firm can expect own level of firm productivity by the averaged factor productivity. In addition, institutional difference can generate uncertainty of factor productivity because the factor uses are regulated in the institutions. We think that uncertainty of factor productivity can be an important determinant for the model of firm heterogeneity. Particularly, uncertainty of labor productivity can sharply differ across countries due to some inherited attributes. We will augment the work of Melitz (2003) by incorporating uncertainty of factor productivity and will show that the uncertainty determines the selection effect.

목차

Ⅰ. Introduction

Ⅱ. Benchmarked Model and Extension

Ⅲ. Equilibrium in a Closed Economy

Ⅳ. Equilibrium in an Open Economy

Ⅴ. Asymmetry: Difference of Uncertainty

Ⅵ. Conclusions and Recommendations

키워드

Heterogeneous Firm International Trade Monopolistic Competition Uncertainty