| 研究実績の概要 |
The objective of the research is (i) to develop a quantitative model of international trade which features multiple countries, multiple industries, and industry-level external economies of scale (Marshallian externalities); (ii) to use the model to analyze effects of trade policy on country-industry-level productivities and trade. Our main research achievements are as follows:
First, we finished the construction of the model and proved a number of important theoretical results. Namely, we showed that the model has a unique equilibrium in several important special cases and we showed that within our environment all countries gain from trade, which is an important contribution to the literature. Moreover, we showed that the workhorse models of international trade that are used for policy analyses (Krugman and Melitz models) are isomorphic to our model. Thus, our theoretical results for uniqueness are applied to these models.
Second, we used our model to quantify the effects of the presence external economies of scale on trade flows and welfare. Namely, we employed real-world data and showed that the presence of external economies of scale magnifies gains from tariff reductions for countries that specialize in industries with strong external economies of scale.
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| 現在までの達成度 (区分) |
現在までの達成度 (区分)
2: おおむね順調に進展している
理由
We submitted the current version of our draft to a peer-reviewed journal. Several professors in the US (including Gene Grossman of Princeton University and Jonathan Eaton of Penn State University) have already started teaching our paper in their PhD level-courses on International Trade. We started working on extensions of our results to a dynamic setting with capital accumulation. We have already released a version of our draft and we are scheduled to present it at at least four conferences: 18th Society for the Advancement of Economic Theory in Taiwan, 2018 Society for Economic Dynamics in Mexico, 2018 North American Summer Meeting in the US, and 71st European Meeting of the Econometric Society in Germany.
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