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Imports, Pass-Through, and the Structure of Retail Markets

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  • Horst Raff
  • Nicolas Schmitt

Abstract

We construct a model of trade with heterogeneous retailers to examine the effects of trade liberalization on retail market structure, imports and social welfare. We are especially interested in studying the degree of pass-through of import into retail prices and the effects of retail market regulation. The paper shows that the degree of pass-through may be large when market structure effects are taken into account, and that restrictions on retailing may have significant effects on imports and the degree of pass-through. The paper helps explain the apparent discrepancy between the low observed degree of pass-through and the large benefit that consumers seem to derive from trade liberalization

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Bibliographic Info

Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1556.

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Length: 35 pages
Date of creation: Sep 2009
Date of revision:
Handle: RePEc:kie:kieliw:1556

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Keywords: international trade; retailing; pass-through; firmheterogeneity;

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References

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  1. Horst Raff & Nicolas Schmitt, 2009. "Buyer Power in International Markets," CESifo Working Paper Series 2755, CESifo Group Munich.
  2. Francois, Joseph & Wooton, Ian, 2007. "Market structure and market access," Policy Research Working Paper Series 4151, The World Bank.
  3. Campa, José Manuel & Goldberg, Linda S, 2006. "Distribution Margins, Imported Inputs and the Insensitivity of the CPI to Exchange Rates," CEPR Discussion Papers, C.E.P.R. Discussion Papers 5650, C.E.P.R. Discussion Papers.
  4. Miyagiwa, Kaz, 1993. "Reforming the japanese distribution system: will it boost exports to Japan?," Japan and the World Economy, Elsevier, Elsevier, vol. 5(4), pages 321-336, December.
  5. Keller, Wolfgang & Smarzynska Javorcik, Beata & Tybout, James R, 2006. "Openness and Industrial Response in a Wal-Mart World: A Case Study of Mexican Soaps, Detergents and Surfactant Producers," CEPR Discussion Papers, C.E.P.R. Discussion Papers 5823, C.E.P.R. Discussion Papers.
  6. Javier Miranda & Shawn Klimek & Ron Jarmin, 2004. "Firm Entry and Exit in the U.S. Retail Sector, 1977-1997," Working Papers, Center for Economic Studies, U.S. Census Bureau 04-17, Center for Economic Studies, U.S. Census Bureau.
  7. Ottaviano, Gianmarco & Melitz, Marc, 2008. "Market Size, Trade, and Productivity," Scholarly Articles 3229096, Harvard University Department of Economics.
  8. Schivardi, Fabiano & Viviano, Eliana, 2008. "Entry Barriers in Retail Trade," CEPR Discussion Papers, C.E.P.R. Discussion Papers 6637, C.E.P.R. Discussion Papers.
  9. Jonathan Haskel & Raffaella Sadun, 2012. "Regulation and UK Retailing Productivity: Evidence from Microdata," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 79(315), pages 425-448, 07.
  10. Hellerstein, Rebecca, 2008. "Who bears the cost of a change in the exchange rate? Pass-through accounting for the case of beer," Journal of International Economics, Elsevier, Elsevier, vol. 76(1), pages 14-32, September.
  11. Eckel, Carsten, 2009. "International trade and retailing," BERG Working Paper Series 63, Bamberg University, Bamberg Economic Research Group.
  12. Bertrand, Marianne & Kramarz, Francis, 2002. "Does Entry Regulation Hinder Job Creation? Evidence from the French Retail Industry," IZA Discussion Papers 415, Institute for the Study of Labor (IZA).
  13. Emek Basker & Van Pham Hoang, 2011. "Wal-Mart as Catalyst to U.S.-China Trade," Working Papers 01, Development and Policies Research Center (DEPOCEN), Vietnam.
  14. Martin Richardson, 2004. "Trade Policy and Access to Retail Distribution," Review of International Economics, Wiley Blackwell, Wiley Blackwell, vol. 12(4), pages 676-688, 09.
  15. Ronald S. Jarmin & Shawn D. Klimek & Javier Miranda, 2009. "The Role of Retail Chains: National, Regional and Industry Results," NBER Chapters, National Bureau of Economic Research, Inc, in: Producer Dynamics: New Evidence from Micro Data, pages 237-262 National Bureau of Economic Research, Inc.
  16. Richard E. Caves, 1998. "Industrial Organization and New Findings on the Turnover and Mobility of Firms," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 36(4), pages 1947-1982, December.
  17. repec:nbr:nberwo:12547 is not listed on IDEAS
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Cited by:
  1. Peter Debaere & Holger Görg & Horst Raff, 2013. "Greasing the wheels of international commerce: how services facilitate firms' international sourcing," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 46(1), pages 78-102, February.
  2. Elisabeth Christen & Joseph Francois & Bernard Hoekman, 2012. "CGE modeling of market access in services," Working Papers, Faculty of Economics and Statistics, University of Innsbruck 2012-13, Faculty of Economics and Statistics, University of Innsbruck.
  3. Francois, Joseph & Hoekman, Bernard, 2009. "Services Trade and Policy," CEPR Discussion Papers, C.E.P.R. Discussion Papers 7616, C.E.P.R. Discussion Papers.
  4. Christen, Elisabeth & Francois, Joseph & Hoekman, Bernard, 2013. "Computable General Equilibrium Modeling of Market Access in Services," Handbook of Computable General Equilibrium Modeling, Elsevier, Elsevier.

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