Seminario 15/20: T. Kehoe (U. Minnesota) y P. Pujolas (U. McMaster)– The Measured Productivity Puzzle: Are Exporters More Productive than Non-Exporters?

Información

  • Ponente: Timothy J. Kehoe, University of Minnesota y Federal Reserve Bank of Minneapolis, USA. Pau Pujolas, McMaster University, Canada.
  • Fecha: 03/jul/2015 - 12:30 horas
  • Lugar: Seminario Martínez Gallur, Facultad de Economía y Empresa. Se retransmitirá en directo.
Productivity signpost

Abstract

Recent research in international trade simultaneously has developed along two branches. Empirical research measures plants’ productivity and shows that exporters are more productive than non-exporters. Theoretical research develops models of heterogeneous firms and shows that exporters are more efficient than non-exporters. We argue that there is a disconnect: the measure of firm productivity used in the empirical literature does not match the efficiency parameter in the theoretical literature. Applying the empirical measure of productivity to the model, we find that the most efficient non-exporters’ productivity is higher than that of the least efficient exporters, new exporters’ productivity falls after trade liberalization, and the variance in measured productivity is very small. In a calibrated model, we show that measured productivity of all exporters is smaller than that of non-exporters and the productivity of all firms falls after a trade liberalization.

Nota

En el comienzo del seminario, el profesor T. Kehoe explicará el “Modelo de Melitz”, que es una referencia clave en el análisis del comercio internacional de la última década y el papel de economía más citado durante el mismo periodo.