sellers charge markups over production costs and financial intermediation is costly, then buyer-seller pairs can save on their … overall financing costs by utilizing trade credit. We derive a model of trade credit and markups that captures this mechanism … this effect is stronger for complex products. Using Chilean data at the firm-level to estimate markups and at the trade …

We investigate theoretically and empirically how exporters adjust their markups across destinations depending on … unit, our model predicts that markups rise with distance and fall with tariffs, but these effects are heterogeneous and are …

markups over time. With minimal assumptions, we can disentangle aggregate markup and trade cost changes from observed changes … that across all country pairs, on average, bilateral aggregate markups have increased by 2.8% per year. As bilateral trade … changes. Markups have increased less in high-income countries than in other countries. …

face a fall in output, mark-ups and profits, and the average productivity of survivors increases. These pro …

allows for endogenous markups and rich substitution patterns across goods. In contrast to standard CES-based gravity …

through ; China ; inflation ; markups …