WorldCat Identities

Redding, Stephen

Works: 128 works in 619 publications in 1 language and 2,355 library holdings
Genres: Conference papers and proceedings  History 
Roles: Author, Editor, 958, Opponent
Classifications: HB1, 330.072
Publication Timeline
Most widely held works by Stephen Redding
Distance, skill deepening and development : will peripheral countries ever get rich? by Stephen Redding( Book )

20 editions published in 2003 in English and held by 81 WorldCat member libraries worldwide

"This paper models the relationship between countries' distance from global economic activity, endogenous investments in education, and economic development. Firms in remote locations pay greater trade costs on both exports and intermediate imports, reducing the amount of value added left to remunerate domestic factors of production. If skill- intensive sectors have higher trade costs, more pervasive input-output linkages, or stronger increasing returns to scale, we show theoretically that remoteness depresses the skill premium and therefore incentives for human capital accumulation. Empirically, we exploit structural relationships from the model to demonstrate that countries with lower market access have lower levels of educational attainment. We also show that the world''s most peripheral countries are becoming increasingly economically remote over time"--London School of Economics web site
Product choice and product switching by Andrew B Bernard( Book )

20 editions published in 2003 in English and held by 72 WorldCat member libraries worldwide

This paper develops a model of endogenous product selection by firms. The theory is motivated by new evidence we present on the importance of product switching by U.S. manufacturers. Two-thirds of continuing firms change their product mix every five years, and product switches involve more than 40% of firm output and almost half of existing products. The theoretical model incorporates heterogeneous firms, heterogeneous products, and ongoing entry and exit. In equilibrium, firm productivity is correlated with product fixed costs, with the most productive firms choosing to make the products with the highest fixed costs. Changes in market structure result in systematic patterns of firm entry/exit and product switching
Geography and export performance : external market access and internal supply capacity by Stephen Redding( Book )

19 editions published in 2003 in English and held by 64 WorldCat member libraries worldwide

This paper investigates the determinants of countries' export performance looking in particular at the role of international product market linkages. We begin with a novel decomposition of the growth in countries' exports into the contribution from increases in external demand and from improved internal supply-side conditions. Building on the results of this decomposition we move on to an econometric analysis of the determinants of export performance. Results include the finding that poor external geography, poor internal geography, and poor institutional quality contribute in approximately equal measure to explaining Sub-Saharan Africa's poor export performance
Comparative advantage and heterogeneous firms by Andrew B Bernard( Book )

17 editions published in 2004 in English and held by 57 WorldCat member libraries worldwide

This paper presents a model of international trade that features heterogeneous firms, relative endowment differences across countries, and consumer taste for variety. The paper demonstrates that firm reactions to trade liberalization generate endogenous Ricardian productivity responses at the industry level that magnify countries' comparative advantage. Focusing on the wide range of firm-level reactions to falling trade costs, the model also shows that, as trade costs fall, firms in comparative advantage industries are more likely to export, that relative firm size and the relative number of firms increases more in comparative advantage industries and that job turnover is higher in comparative advantage industries than in comparative disadvantage industries
Products and productivity by Peter K Schott( Book )

18 editions published in 2005 in English and held by 53 WorldCat member libraries worldwide

"Firms' decisions about which goods to produce are often made at a more disaggregate level than the data observed by empirical researchers. When products differ according to production technique or the way in which they enter demand, this data aggregation problem introduces a bias into standard measures of firm productivity. We develop a theoretical model of heterogeneous firms endogenously self-selecting into heterogeneous products. We characterize the bias introduced by unobserved variation in product mix across firms, and the implications of this bias for identifying firm and industry responses to exogenous policy shocks such as deregulation. More generally, we demonstrate that product switching gives rise to a richer set of industry-level dynamics than models where firm product mix remains fixed"--National Bureau of Economic Research web site
Openness and Growth : proceedings of the Bank of England academic conference on the relationship between openness and growth in the United Kingdom, September 15th, 1997 by Bank of England Academic Conference on the Relationship Between Openness and Growth in the United Kingdom( Book )

6 editions published in 1998 in English and held by 52 WorldCat member libraries worldwide

Multi-product firms and product switching by Andrew B Bernard( Book )

17 editions published in 2006 in English and held by 41 WorldCat member libraries worldwide

This paper examines the frequency, pervasiveness and determinants of product switching among U.S. manufacturing firms. We find that two-thirds of firms alter their mix of five-digit SIC products every five years, that one-third of the increase in real U.S. manufacturing shipments between 1972 and 1997 is due to the net adding and dropping of products by survivors, and that firms are more likely to drop products which are younger and have smaller production volumes relative to other firms producing the same product. The product-switching behavior we observe is consistent with an extended model of industry dynamics emphasizing firm heterogeneity and self-selection into individual product markets. Our findings suggest that product switching contributes towards a reallocation of economic activity within firms towards more productive uses
The dynamics of international specialization by Stephen Redding( Book )

14 editions published between 1999 and 2001 in English and held by 36 WorldCat member libraries worldwide

Multi-product firms and trade liberalization by Andrew B Bernard( Book )

14 editions published between 2006 and 2009 in English and held by 29 WorldCat member libraries worldwide

This paper develops a general equilibrium model of multi-product firms and analyzes their behavior during trade liberalization. Firm productivity in a given product is modeled as a combination of firm-level "ability" and firm-product-level "expertise", both of which are stochastic and unknown prior to the firm's payment of a sunk cost of entry. Higher firm-level ability raises a firm's productivity across all products, which induces a positive correlation between a firm's intensive (output per product) and extensive (number of products) margins. Trade liberalization fosters productivity growth within and across firms and in aggregate by inducing firms to shed marginally productive products and forcing the lowest-productivity firms to exit. Though exporters produce a smaller range of products after liberalization, they increase the share of products sold abroad as well as exports per product. All of these adjustments are shown to be relatively more pronounced in countries' comparative advantage industries
Inequality and unemployment in a global economy by Elhanan Helpman( Book )

14 editions published between 2008 and 2009 in English and held by 25 WorldCat member libraries worldwide

This paper develops a new framework for examining the distributional consequences of trade liberalization that is consistent with increasing inequality in every country, growth in residual wage inequality, rising unemployment, and reallocation within and between industries. While the opening of trade yields welfare gains, unemployment and inequality within sectors are higher in the trade equilibrium than in the closed economy. In the open economy changes in trade openness have nonmonotonic effects on unemployment and inequality within sectors. As aggregate unemployment and inequality have within- and between-sector components, changes in sector composition following the opening of trade complicate its impact on aggregate unemployment and inequality. However, when countries are nearly symmetric, the sectoral composition effects reinforce the within-sector effects, and both aggregate inequality and aggregate unemployment rise with trade liberalization
Heterogeneous firms and trade by Marc J Melitz( Book )

11 editions published between 2012 and 2013 in English and held by 20 WorldCat member libraries worldwide

This paper reviews the new approach to international trade based on firm heterogeneity in differentiated product markets. This approach explains a variety of features exhibited in disaggregated trade data, including the higher productivity of exporters relative to non-exporters, within-industry reallocations of resources following trade liberalization, and patterns of trade participation across firms and destination markets. Accounting for these empirical patterns reveals new mechanisms through which the aggregate economy is affected by trade liberalization, including endogenous increases in average industry and firm productivity
Wages, unemployment and inequality with heterogeneous firms and workers by Elhanan Helpman( Book )

9 editions published in 2008 in English and held by 20 WorldCat member libraries worldwide

In this paper we develop a multi-sector general equilibrium model of firm heterogeneity, worker heterogeneity and labor market frictions. We characterize the distributions of employment, unemployment, wages and income within and between sectors as a function of structural parameters. We find that greater firm heterogeneity increases unemployment, wage inequality and income inequality, whereas greater worker heterogeneity has ambiguous effects. We also find that labor market frictions have non-monotonic effects on aggregate unemployment and inequality through within- and between-sector components. Finally, high-ability workers have the lowest unemployment rates but the greatest wage inequality, and income inequality is lowest for intermediate ability. Although these results are interesting in their own right, the main contribution of the paper is in providing a framework for analyzing these types of issues
Firm heterogeneity and aggregate welfare by Marc J Melitz( Book )

11 editions published in 2013 in English and held by 20 WorldCat member libraries worldwide

We examine how firm heterogeneity influences aggregate welfare through endogenous firm selection. We consider a homogeneous firm model that is a special case of a heterogeneous firm model with a degenerate productivity distribution. Keeping all structural parameters besides the productivity distribution the same, we show that the two models have different aggregate welfare implications, with larger welfare gains from reductions in trade costs in the heterogenous firm model. Calibrating parameters to key U.S. aggregate and firm statistics, we find these differences in aggregate welfare to be quantitatively important (up to a few percentage points of GDP). Under the assumption of a Pareto productivity distribution, the two models can be calibrated to the same observed trade share, trade elasticity with respect to variable trade costs, and hence welfare gains from trade (as shown by Arkolakis, Costinot and Rodriguez-Clare, 2012); but this requires assuming different elasticities of substitution between varieties and different fixed and variable trade costs across the two models
Theories of heterogeneous firms and trade by Stephen Redding( Book )

11 editions published in 2010 in English and held by 19 WorldCat member libraries worldwide

This paper reviews the recent theoretical literature on heterogeneous firms and trade, which emphasizes firm selection into international markets and reallocations of resources across firms. We discuss the empirical challenges that motivated this research and its relationship to traditional trade theories. We examine the implications of firm heterogeneity for comparative advantage, market size, aggregate trade, the welfare gains from trade, and the relationship between trade and income distribution. While a number of studies examine the endogenous response of firm productivity to trade liberalization, modeling internal firm organization and the origins of firm heterogeneity remain interesting areas of ongoing research
Task specialization in U.S. cities from 1880-2000 by Guy Michaels( Book )

13 editions published in 2013 in English and held by 18 WorldCat member libraries worldwide

We develop a new methodology for quantifying the tasks undertaken within occupations using 3,000 verbs from around 12,000 occupational descriptions in the Dictionary of Occupational Titles (DOTs). Using micro-data from the United States from 1880-2000, we find an increase in the employment share of interactive occupations within sectors over time that is larger in metro areas than non-metro areas. We provide evidence that this increase in the interactiveness of employment is related to the dissemination of improvements in transport and communication technologies. Our findings highlight a change in the nature of agglomeration over time towards an increased emphasis on human interaction
Trade and labor market outcomes by Elhanan Helpman( Book )

12 editions published in 2011 in English and held by 17 WorldCat member libraries worldwide

This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market frictions, and foreign trade. This framework emphasizes firm heterogeneity and search and matching frictions in labor markets. It implies that the opening of trade may raise inequality and unemployment, but always raises welfare. Unilateral reductions in labor market frictions increase a country's welfare, can raise or reduce its unemployment rate, yet always hurt the country's trade partner. Unemployment benefits can alleviate the distortions in a country's labor market in some cases but not in others, but they can never implement the constrained Pareto optimal allocation. We characterize the set of optimal policies, which require interventions in product and labor markets
Missing Gains from Trade? by Marc J Melitz( Book )

10 editions published in 2014 in English and held by 15 WorldCat member libraries worldwide

The theoretical result that there are welfare gains from trade is a central tenet of international economics. In a class of trade models that satisfy a "gravity equation", the welfare gains from trade can be computed using only the open economy domestic trade share and the elasticity of trade with respect to variable trade costs. The measured welfare gains from trade from this quantitative approach are typically relatively modest. In this paper, we suggest a channel for welfare gains that this quantitative approach typically abstracts from: trade-induced changes in domestic productivity. Using a model of sequential production, in which trade induces a reorganization of production that raises domestic productivity, we show that the welfare gains from trade can become arbitrarily large
External integration structural transformation and economic development : evidence from Argentina 1870-1914 by Pablo Fajgelbaum( Book )

10 editions published in 2014 in English and held by 12 WorldCat member libraries worldwide

This paper uses the natural experiment of Argentina's integration into world markets in the late-nineteenth century to provide evidence on the role of internal geography in shaping the effects of external integration. We develop a quantitative model of the distribution of economic activity across regions and sectors. The model predicts a spatial Balassa-Samuelson effect, in which locations with better access to world markets have higher population densities, higher shares of employment in the non-traded sector, higher relative prices of non-traded goods, and higher land prices relative to wages. We use the model and data on population density and sectoral employment shares to recover sufficient statistics that isolate the economic mechanisms through which external and internal integration affect economic development. Our analysis highlights the role of complementary investments in internal infrastructure and technology adoption in mediating the economy's response to external integration
Transportation Costs and the Spatial Organization of Economic Activity by Stephen Redding( Book )

10 editions published in 2014 in English and held by 12 WorldCat member libraries worldwide

This paper surveys the theoretical and empirical literature on the relationship between the spatial distribution of economic activity and transportation costs. We develop a multi-region model of economic geography that we use to understand the general equilibrium implications of transportation infrastructure improvements within and between locations for wages, population, trade and industry composition. Guided by the predictions of this model, we review the empirical literature on the effects of transportation infrastructure improvements on economic development, paying particular attention to the use of exogenous sources of variation in the construction of transportation infrastructure. We examine evidence from different spatial scales, between and within cities. We outline a variety of areas for further research, including distinguishing reallocation from growth and dynamics
Goods trade, factor mobility and welfare by Stephen Redding( Book )

7 editions published in 2012 in English and held by 11 WorldCat member libraries worldwide

This paper extends a recent class of quantitative models of international trade to incorporate factor mobility within countries. We present a model-based decomposition of the variance of economic activity into the contributions of locational fundamentals, market access and their covariance. We show how the standard framework for undertaking model-based counterfactuals in trade can be augmented to obtain predictions for endogenous changes in the distribution of economic activity across regions within countries. A region's trade share with itself is no longer a sufficient statistic for the welfare gains from trade, which also depend on endogenous changes in the distribution of mobile factors
moreShow More Titles
fewerShow Fewer Titles
Audience Level
Audience Level
  Kids General Special  
Audience level: 0.73 (from 0.68 for Goods trad ... to 0.83 for The dynami ...)

Openness and Growth : proceedings of the Bank of England academic conference on the relationship between openness and growth in the United Kingdom, September 15th, 1997
Alternative Names
Redding, S.

Redding, S. 1972-

Redding, S. J. 1972-

Redding, S. (Stephen)

Redding, Stephen J.

Redding, Stephen J. 1972-

Redding, Stephen James 1972-

Stephen Redding economist (Princeton University; London School of Economics (LSE); Centre for Economic Policy Research (CEPR))

Stephen Redding Wirtschaftswissenschaftler (Princeton University; London School of Economics (LSE); Centre for Economic Policy Research (CEPR))

English (263)