Journal ArticleDOI
Product differentiation and oligopoly in international markets: the case of the u.s. automobile industry
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In this article, the authors developed and estimated a model of the U.S. Automobile Industry using micro data from the Consumer Expenditure Survey (CES) and used it in conjunction with population weights to derive aggregate demand.Abstract:
This paper develops and estimates a model of the U.S. Automobile Industry. On the demand side, a discrete choice model is adopted, that is estimated using micro data from the Consumer Expenditure Survey. The estimation results are used in conjunction with population weights to derive aggregate demand. On the supply side, the automobile industry is modelled as an oligopoly with product differentiation. Equilibrium is characterized by the first order conditions of the profit maximizing firms. The estimation results are used in counterfactual simulations to investigate two trade policy issues: the effects of the VER, and exchange rate pass-through.read more
Citations
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Journal ArticleDOI
Automobile prices in market equilibrium
TL;DR: In this article, the authors developed techniques for empirically analyzing demand and supply in differentiated products markets and then applied these techniques to analyze equilibrium in the U.S. automobile industry.
Journal ArticleDOI
Globalization and the gains from variety
TL;DR: This article showed that the import of new product varieties has contributed to national welfare gains in the United States over the last three decades (1972-2001) by increasing the number of imported product varieties by a factor of four.
Book
Advanced International Trade : Theory and Evidence Ed. 2
TL;DR: The Advanced International Trade (AIT) as discussed by the authors is a classic graduate textbook in international trade that has been used widely by students and practitioners of economics for a long time to come.
Journal ArticleDOI
Globalization and the Gains from Variety
TL;DR: This article showed that the import of new product varieties has contributed to national welfare gains in the United States over the last three decades (1972-2001) by increasing the number of imported product varieties by a factor of four.
Journal ArticleDOI
A Practitioner's Guide to Estimation of Random-Coefficients Logit Models of Demand
TL;DR: In this paper, the authors focus on one of the main methods for estimating demand for differentiated products: random coefecients logit models, and carefully discuss the latest innovations in these methods with the hope of increasing the understanding, and therefore the trust among researchers who have never used them, and reducing the difeculty of their use, thereby aiding in realizing their full potential.
References
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Journal Article
Modeling the choice of residential location
TL;DR: The problem of translating the theory of economic choice behavior into concrete models suitable for analyzing housing location and methods for controlling the size of data collection and estimation tasks by sampling alternatives from the full set of alternatives are discussed.
Journal ArticleDOI
Estimating Discrete-Choice Models of Product Differentiation
TL;DR: In this paper, the authors consider the problem of "supply-and-demand" analysis on a cross-section of oligopoly markets with differentiated products and propose estimation by "inverting" the market-share equation to find the implied mean levels of utility for each good.
Book
Trade policy and market structure
Elhanan Helpman,Paul Krugman +1 more
TL;DR: In this article, trade policy and market power strategic effects production efficiency the political economy of the new theory organization, trade policy under perfect competition: tariff analysis import quotas export subsidies and taxes optimal trade taxes a note on general equilibrium domestic distortions and trade policy algebra for small policy changes.
Journal ArticleDOI
Aggregation and imperfect competition: on the existence of equilibrium
Andrew Caplin,Barry Nalebuff +1 more
TL;DR: In this paper, the authors present an approach to the theory of imperfect competition and apply it to study price competition among differentiated products, including products with multi-dimen-sional attributes.