Allocative Efficiency, Mark-ups, and the Welfare Gains from Trade

This paper develops an index of allocative efficiency that depends upon the distribution of mark-ups across goods and is separable from an index of standard Ricardian gains from trade. It determines how changes in trade frictions affect allocative efficiency in an oligopoly model of international tr...

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Bibliographic Details
Main Authors: HOLMES, Thomas J., HSU, Wen-Tai, LEE, Sanghoon
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2014
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Online Access:https://ink.library.smu.edu.sg/soe_research/1643
https://ink.library.smu.edu.sg/context/soe_research/article/2642/viewcontent/AllocativeEfficiencyMark_ups_2013_sv.pdf
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Institution: Singapore Management University
Language: English