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dc.contributor.authorZhai, Fanen
dc.date.accessioned2011-12-15T12:21:59Z-
dc.date.available2011-12-15T12:21:59Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/53516-
dc.description.abstractTraditional computable general equilibrium (CGE) models based on the Armington assumption fail to capture the extensive margin of trade, and thereby underestimate the trade and welfare effects of trade opening. To address this problem, this paper introduces the Melitz (2003) theoretical framework with firm heterogeneity and fixed exporting costs into a global CGE model. Some illustrative simulations show that the introduction of firm heterogeneity improves the ability of the CGE model to capture the trade expansion and welfare effects of trade liberalization. Under the case of a global manufacturing tariff cut, the estimated gains in welfare and exports are more than double those obtained from a standard Armington CGE model. Sensitivity analysis indicates that model results are sensitive to the shape parameters of firm productivity distribution, suggesting the need for further empirical work to estimate the degree of firm heterogeneity.en
dc.language.isoengen
dc.publisher|aAsian Development Bank Institute (ADBI) |cTokyoen
dc.relation.ispartofseries|aADBI Discussion Paper |x108en
dc.subject.jelC68en
dc.subject.jelF12en
dc.subject.jelF17en
dc.subject.ddc330en
dc.subject.stwCGE-Modellingen
dc.subject.stwAußenwirtschaftstheorieen
dc.titleArmington meets Melitz: Introducing firm heterogeneity in a global CGE model of trade-
dc.typeWorking Paperen
dc.identifier.ppn569582555en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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