演講者簡介 : Professor Kiminori Matsuyama received his Ph.D. in Economics from Harvard University in 1987. He is currently a Professor at Northwestern University. His research interests are international trade and economic growth and development.
演講摘要 : We study the Melitz (2003) model under the H.S.A. (Homothetic with a Single Aggregator) class of demand systems to understand how competitive pressures affect selection and sorting of firms with different productivity. H.S.A. is tractable, because its single aggregator serves as a sufficient statistic for competitive pressures, and, due to its homotheticity, competitive pressures act as a magnifier of firm heterogeneity. It is also flexible enough to allow for the choke price, Marshall’s 2nd law of demand--“a higher price leads to a higher price elasticity”--, and what we call the 3rd law of demand--“a higher price leads to a smaller rate of change in the price elasticity.”
