where this discrepancy between the short- and long-run elasticities is due to frictions in distribution. Goods need to be … combined with a local non-traded input, distribution capital, which is good specific. Home and foreign goods may be close … substitutes, but if distribution capital is slow to adjust then agents cannot shift their consumption in the short run following a …

moving from a Pareto to a lognormal distribution allows the Melitz model to match the role of the intensive margin in the EDD …. We use likelihood methods and the EDD to estimate a generalized Melitz model with a joint lognormal distribution for firm …

to make its distribution network in both space and time. Indivisibilities are found to create significant scale economies … in distribution …

Black entrepreneurship has been unsuccessful in the U.S. The fraction of employed blacks that work in their own … beginning entrepreneurs do not usually borrow. Examining the industrial distribution of black and white businesses, I do not …

entrepreneurship, and use it for comparative statics and welfare analysis. One welfare conclusion is that intermediaries may have …