Misallocation Under Trade Liberalization
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This paper formalises a classic idea that in second-best environments trade can induce welfare losses: gains accrued can be outweighed by incremental income losses stemming from distortions. In a Melitz model with distortionary taxes, we derive sufficient statistics for welfare gains from trade, and
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美国国家经济研究局创建时间：
2019-09-01
