NDLI: Welfare and Trade without Pareto

Content Provider	Semantic Scholar
Author	Head, Keith Mayer, Thierry Thoenig, Mathias
Copyright Year	2014
Abstract	This paper investigates the consequences of replacing the assumption of Pareto heterogeneity with log-normal heterogeneity. This case is interesting because it (a) maintains some desirable analytic features of Pareto, (b) ts the complete distribution of rm sales rather than just approximating the right tail, and (c) can be generated under equally plausible processes (see online appendix). The log-normal is reasonably tractable but its use sacrices some \scale-free" properties conveyed by the Pareto distribution. Aspects of the the calibration that do not matter under Pareto lead to important dierences in the gains from trade under log-normal.
Starting Page	310
Ending Page	316
Page Count	7
File Format	PDF HTM / HTML
DOI	10.1257/aer.104.5.310
Volume Number	104
Alternate Webpage(s)	http://spire.sciencespo.fr/hdl:/2441/f6h8764enu2lskk9p2m9j4i07/resources/2014-02.pdf
Alternate Webpage(s)	http://www.sciencespo.fr/hetmat/sites/sciencespo.fr.hetmat/files/Head%20et%20al.%202014%20-%20Welfare%20and%20trade%20without%20Pareto.pdf
Alternate Webpage(s)	https://www.aeaweb.org/conference/2014/retrieve.php?pdfid=666
Alternate Webpage(s)	http://people.unil.ch/mathiasthoenig/files/2013/11/nopareto_welfare_AERPP_pub.pdf
Alternate Webpage(s)	http://econ.sciences-po.fr/sites/default/files/file/nopareto.pdf
Alternate Webpage(s)	https://assets.aeaweb.org/assets/production/articles-attachments/aer/app/10405/P2014_1126_app.pdf
Alternate Webpage(s)	http://spire.sciencespo.fr/hdl:/2441/5fjm1f1p0v93k9png4qo8ltnrf/resources/2014-thierry-mayer-welfare-and-trade-without-pareto.pdf
Alternate Webpage(s)	https://hal-sciencespo.archives-ouvertes.fr/hal-00973032/document
Alternate Webpage(s)	https://doi.org/10.1257/aer.104.5.310
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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