Abstract

http://ssrn.com/abstract=986904
 
 

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Firms in International Trade


Andrew B. Bernard


Dartmouth College - Tuck School of Business; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

J. Bradford Jensen


Georgetown University - Department of Strategy/Economics/Ethics/Public Policy; Peter G. Peterson Institute for International Economics

Stephen J. Redding


Princeton University; London School of Economics (LSE); Centre for Economic Policy Research (CEPR)

Peter K. Schott


Yale University - School of Management; National Bureau of Economic Research (NBER)

April 2007

NBER Working Paper No. w13054

Abstract:     
Despite the fact that importing and exporting are extremely rare firm activities, economists generally devote little attention to the role of firms when discussing international trade. This paper summarizes key differences between trading and non-trading firms, demonstrates how these differences present a challenge to standard trade models and shows how recent "heterogeneous-firm" models of international trade address these challenges. We then make use of transaction-level U.S. trade data to introduce a number of new stylized facts about firms and trade. These facts reveal that the extensive margins of trade -- that is, the number of products firms trade as well as the number of countries with which they trade -- are central to understanding the well-known role of distance in dampening aggregate trade flows.

Number of Pages in PDF File: 30

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Date posted: June 27, 2007  

Suggested Citation

Bernard, Andrew B. and Jensen, J. Bradford and Redding, Stephen J. and Schott, Peter K., Firms in International Trade (April 2007). NBER Working Paper No. w13054. Available at SSRN: http://ssrn.com/abstract=986904

Contact Information

Andrew B. Bernard (Contact Author)
Dartmouth College - Tuck School of Business ( email )
100 Tuck Hall
Hanover, NH 03755
United States
603-646-0302 (Phone)
603-646-9084 (Fax)
HOME PAGE: http://mba.tuck.dartmouth.edu/pages/faculty/Andrew.Bernard/
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Centre for Economic Policy Research (CEPR) ( email )
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
J. Bradford Jensen
Georgetown University - Department of Strategy/Economics/Ethics/Public Policy ( email )
Washington, DC 20057
United States

Peter G. Peterson Institute for International Economics ( email )
1750 Massachusetts Avenue, NW
Washington, DC 20036
United States
Stephen J. Redding
Princeton University ( email )
Princeton, NJ 08544-1021
United States
HOME PAGE: http://www.princeton.edu/~reddings/
London School of Economics (LSE) ( email )
Houghton Street
London WC2A 2AE
United Kingdom
+44 20 7955 7483 (Phone)
+44 20 7831 1840 (Fax)
HOME PAGE: http://econ.lse.ac.uk/~sredding/
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
Peter K. Schott
Yale University - School of Management ( email )
135 Prospect Street
P.O. Box 208200
New Haven, CT 06520-8200
United States
203-436-4260 (Phone)
203-436-6974 (Fax)
HOME PAGE: http://www.som.yale.edu/faculty/pks4
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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References:  42
Citations:  182

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