题目：Misallocation Under Trade Liberalization
摘要：What is the impact of trade liberalization on economies with sizeable distortions? A Melitz model incorporating firm-level wedges shows that trade liberalization can exacerbate rather than improve resource allocation, causing a decline rather than a rise in TFP. We derive a theoretical decomposition of the various channels through which distortions impact the effects of trade, and show that trade can engender welfare losses. A quantitative assessment using Chinese manufacturing data shows that there is a TFP loss in association with trade liberalization, and a significantly smaller gains to trade than what is implied by standard formulations. Moreover, using only aggregate statistics to measure gains to trade apropos the ACR formula would lead to markedly different predictions.
吕丹，芝加哥大学经济学博士，罗切斯特大学经济系助理教授，普林斯顿大学经济系访问学者，本科毕业于武汉大学。研究领域为国际贸易、宏观经济学和经济增长，目前在American Economic Journal: Macroeconomics, IMF Economic Review发表论文，多篇文章正在American Economic Review、Journal of International Economics等审稿。