Globalization, Markups, and Firm-level Export Status: Beyond the Constant Elasticity of Substitution

全球化、加价和企业层面的出口状况：超越替代的恒定弹性

• 批准号: 26380283
• 负责人: 陳 清目
• 金额: $ 2.66万
• 依托单位: Tohoku University
• 依托单位国家: 日本
• 项目类别: Grant-in-Aid for Scientific Research (C)
• 财政年份: 2014
• 资助国家: 日本
• 起止时间: 2014-04-01 至 2015-03-31
• 项目状态: 已结题
• 来源: https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-26380283/
• 关键词: footloose capital; pro-competitive; firm markups; home market effect; monopolistic competition

To investigate the impact of pro-competitive effects on markups of firms in a globalization world, this study established a two-country-one-sector-two-factor trade model of monopolistic competition by applying a general utility function featuring the variable elasticity of substitution. Since firms are assumed to perform in the same productivity in this reconstructed footloose capital model, we can analytically grasp the relationships between globalization and firm-level markups on the basis of a representative firm.The main contributions of this study are four folds. First, we prove that in a two-factor setup, unilateral trade occurs when trade opens. The direction of the unilateral trade flow depends on parameters and function form of utility. Second, we show that the domestic markups in the larger country and the smaller country display opposite trends when trade opens. Then whether the domestic markup of a firm in the larger country goes up or down depends on the direction of unilateral trade flow. Three, we examine firm markups across firms' different markets and clarify the directions of these market-specific markups in response to the case of trade opening and the case of being close to free trade. We also find that the revenue-weighted average markup across all markets for a representative firm does not change monotonically along with the decreasing transport costs. Four, we prove that the home market effect in terms of firm share does not always prevail. It also depends on the direction of the unilateral trade flow.

为了考察全球化背景下促进竞争效应对企业利润率的影响，本研究运用具有可变替代弹性的一般效用函数，建立了一个两国一部门两要素垄断竞争贸易模型。在这个重构的自由流动资本模型中，由于假设企业的生产率相同，因此我们可以从一个代表性企业的角度分析把握全球化与企业层面利润率的关系。首先，我们证明了在一个双因素的设置，单边贸易发生时，贸易开放。单边贸易流的方向取决于效用函数的参数和形式。第二，我们表明，国内加价在较大的国家和较小的国家显示相反的趋势时，贸易开放。那么，一个较大国家的公司的国内加价是上升还是下降取决于单边贸易流的方向。第三，针对贸易开放和接近自由贸易的情况，考察企业在不同市场的加价情况，明确市场加价的方向。我们还发现，一个代表性的公司在所有市场的收入加权平均加价不单调沿着随着运输成本的下降。第四，我们证明了公司份额方面的国内市场效应并不总是占上风。这也取决于单边贸易流动的方向。