000			01595nab a2200265 c 4500
999			_c150098 _d150098
003			ES-MaIEF
005			20241217183543.0
007			ta
008			241211s2024 us ||||| |||| 00| 0 eng d
040			_aES-MaIEF _beng _cES-MaIEF
100			_972169 _aBai, Yan
245	1	0	_aMisallocation under trade liberalization _c by Yan Bai, Keyu Jin, Dan Lu
260			_c2024
504			_aBibliografía
520			_aThis paper formalizes a classic idea that in second-best environments trade can induce welfare losses: incremental income losses from distortions can outweigh trade gains. In a Melitz model with distortionary taxes, we derive sufficient statistics for welfare gains/losses and show departures from the efficient case (Arkolakis, Costinot, and Rodríguez-Clare 2012) can be captured by the gap between an input and output share and domestic extensive margin elasticities. The loss reflects an endogenous selection of more subsidized firms into exporting. Using Chinese manufacturing data in 2005 and model-inferred firm-level distortions, we demonstrate that a sizable negative fiscal externality can potentially offset conventional gains.
650		4	_947460 _aIMPUESTOS
650		4	_939231 _aCOMERCIO INTERNACIONAL
650		4	_97286 _aACUERDOS DE LIBRE COMERCIO
650		4	_931103 _aASIGNACION DE RECURSOS
650		4	_947899 _aORGANISMOS INTERNACIONALES
700	1		_972173 _aJin, Keyu
700	1		_972172 _aLie Dan Lu, Tracey
773	0		_9172341 _oOP 234/2024/7 _tThe American Economic Review _w(IEF)103372 _x 0002-8282 _g v. 114, n. 7, July 2024, p. 1949-1985
942			_cART