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UID:89d77648d0c7c5a5cb56111956bf8514
CATEGORIES:Seminars
CREATED:20170418T182536
SUMMARY:Lunch Seminar: Joaquin Blaum - Brown University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:The Gains from Input Trade in Firm-Based Models of Importing\nAbstract:\n T
 rade in intermediate inputs allows firms to reduce their costs of productio
 n by using better, cheaper, or novel inputs from abroad. The extent to whic
 h firms participate in foreign input markets, however, varies substantially
 . We show that accounting for this heterogeneity in import behavior is impo
 rtant to quantify the effect of input trade on consumer prices. We provide 
 a theoretical result that holds in a wide class of models of importing: the
  firm-level data on value added and domestic expenditure shares in material
  spending is sufficient to compute the change in consumer prices relative t
 o input autarky. In an application to French data, we find that consumer pr
 ices of manufacturing products would be 27% higher in the absence of input 
 trade. Relying on aggregate data leads to substantially biased results. We 
 then extend the analysis to study counterfactuals other than autarky and th
 e measurement of welfare. We find that the observable micro data on value a
 dded and domestic shares contains crucial information about the effects of 
 the shocks.\n
DTSTAMP:20260406T193801Z
DTSTART:20160719T130000Z
DTEND:20160719T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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