(5)--Antras_Intermediated_Trade跨境电子商务.pdf

Intermediated Trade The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters. Citation Antrás, Pol and Arnaud Costinot. Forthcoming. Intermediated trade. Quarterly Journal of Economics. Accessed February 14, 2017 7:30:09 PM EST Citable Link /urn-3:HUL.InstRepos:4784024 Terms of Use This article was downloaded from Harvard Universitys DASH repository, and is made available under the terms and conditions applicable to Open Access Policy Articles, as set forth at /urn-3:HUL.InstRepos:dash.current.terms-of- use#OAP (Article begins on next page) INTERMEDIATED TRADE Pol Antr‡s Arnaud Costinot December 27, 2010 Abstract This paper develops a simple model of international trade with intermediation. We consider an economy with two islands and two types of agents, farmers and traders. Farmers can produce two goods, but in order to sell these goods in centralized (Walrasian) markets, they need to be matched with a trader, and this entails costly search. In the absence of search frictions, our model reduces to a standard Ricardian model of trade. We use this simple model to contrast the implications of changes in the integration of Walrasian markets, which allow traders from di§erent islands to exchange their goods, and changes in the access to these Walrasian markets, which allow farmers to trade with traders from di§erent islands. We Ö