Two and a half theories of trade
This paper discusses the place of oligopoly in international trade theory, and argues that it is unsatisfactory to ignore firms altogether, as in perfectly competitive models, or to view large firms as more productive clones of small ones, as in monopolistically competitive models. Doing either fai...
| المؤلف الرئيسي: | |
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| التنسيق: | Working paper |
| منشور في: |
University of Oxford
2009
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| _version_ | 1826288377421365248 |
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| author | Neary, P |
| author_facet | Neary, P |
| author_sort | Neary, P |
| collection | OXFORD |
| description | This paper discusses the place of oligopoly in international trade theory, and argues that it is unsatisfactory to ignore firms altogether, as in perfectly competitive models, or to view large firms as more productive clones of small ones, as in monopolistically competitive models. Doing either fails to account for the "granularity" in the size distribution of firms and for the dominance of large firms in exporting. The paper outlines three ways of developing more convincing models of oligopoly, which allow for free entry but do not lose sight of the grains in "granularity": heterogeneous industries, natural oligopoly, and superstar firms. |
| first_indexed | 2024-03-07T02:12:46Z |
| format | Working paper |
| id | oxford-uuid:a13840f4-a6e8-48e9-9e69-371e0c766601 |
| institution | University of Oxford |
| last_indexed | 2024-03-07T02:12:46Z |
| publishDate | 2009 |
| publisher | University of Oxford |
| record_format | dspace |
| spelling | oxford-uuid:a13840f4-a6e8-48e9-9e69-371e0c7666012022-03-27T02:11:26ZTwo and a half theories of tradeWorking paperhttp://purl.org/coar/resource_type/c_8042uuid:a13840f4-a6e8-48e9-9e69-371e0c766601Bulk import via SwordSymplectic ElementsUniversity of Oxford2009Neary, PThis paper discusses the place of oligopoly in international trade theory, and argues that it is unsatisfactory to ignore firms altogether, as in perfectly competitive models, or to view large firms as more productive clones of small ones, as in monopolistically competitive models. Doing either fails to account for the "granularity" in the size distribution of firms and for the dominance of large firms in exporting. The paper outlines three ways of developing more convincing models of oligopoly, which allow for free entry but do not lose sight of the grains in "granularity": heterogeneous industries, natural oligopoly, and superstar firms. |
| spellingShingle | Neary, P Two and a half theories of trade |
| title | Two and a half theories of trade |
| title_full | Two and a half theories of trade |
| title_fullStr | Two and a half theories of trade |
| title_full_unstemmed | Two and a half theories of trade |
| title_short | Two and a half theories of trade |
| title_sort | two and a half theories of trade |
| work_keys_str_mv | AT nearyp twoandahalftheoriesoftrade |