Beschreibung

"In this paper, we present a standard quality ladders endogenous growth model with one significant new assumption, that it takes time for firms to learn how to export. It has been known that the welfare gains from trade liberalization implied by a large class of models like the Armington gravity model, Krugman (1980) and Melitz (2003) are small. Our quality ladders model is consistent with a number of firm-level stylized facts from the heterogeneous firms trade literature and is in addition capable of generating very large welfare gains from trade liberalization." (Author's abstract, Published by arrangement with John Wiley & Sons) ((en))