We develop a general equilibrium model of trade that features “indirectly additive”
preferences and heterogeneous firms. Monopolistic competition generates markups that are …

The measurement of price changes, economic welfare, and demand parameters is currently
based on three disjoint approaches: macroeconomic models derived from time-invariant …

High degrees of demand-side real rigidities are able to generate the large monetary non-
neutrality found in aggregate data. This paper provides micro-based evidence on the key …

Using supplier-level trade data, we estimate the effect on consumer welfare from changes in
US imports both in the aggregate and for different household income groups from 1998 to …

This paper examines demand systems where the demand for a good depends on other
prices only through a common price aggregator (a scalar function of all prices). We refer to …

We show that spatial equilibrium conditions in workhorse models of quantitative spatial
economics (QSE) can be generated by the McFadden (1974) model together with the …

We explore monopolistic competition with asymmetric preferences over a variety of goods
provided by heterogeneous firms, and compute equilibria (approximating Cournot and …

When is monopsonistic competition between firms a source of aggregate misallocations? To
study this question, I develop a heterogeneous firm model featuring endogenously variable …

We develop a method to measure the incidence of monopolistic markup distortions in the
global economy. Using semi-parametric formulas, we measure how trade modifies the …

We study the fundamental links between two popular approaches to consumer choice: the
multinomial logit model of individual discrete choice and the CES utility function, which …