Welfare gains in the Armington, Krugman and Melitz models: Comparisons grounded on gravity

Under a wide range of model features, we show that in response to a reduction in global trade costs, the global welfare gains are largest in the Melitz model, followed by the Krugman model, and smallest in Armington. Labor‐leisure choice and intermediate goods are the most important features for dif...

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Veröffentlicht in:	Economic inquiry 2022-10, Vol.60 (4), p.1681-1703
Hauptverfasser:	Balistreri, Edward J., Tarr, David G.
Format:	Artikel
Sprache:	eng
Schlagworte:	Gravity heterogeneous firms Leisure monopolistic competition multi‐sector Feenstra ratio optimal tariff Protectionism structural gravity Welfare welfare comparisons
Online-Zugang:	Volltext
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