suffer. More than the loss in trade, China will experience substantial welfare loss due to all of allocative inefficiency …, worsening terms of trade and endowment effect. Of these, worsening terms of trade explain the largest part of welfare loss to … the country. With the withdrawal of the USA from the deal, China’s trade with the region and its welfare is likely to …

increases the within-industry variance of, sales and reduces welfare gains as consumers dislike price heterogeneity. Our theory …

-rationed firms. Both effects increase the within-industry variance of firm outcomes and reduce welfare gains as consumers dislike …

We use a general equilibrium model to examine the welfare effect of domestic equity requirements on multinational firms … turns out that, under quotas, raising equity requirements improves welfare in the short run but reduces welfare in the long … run. In contrast, when tariffs are in place, the policy of domestic equity requirements lowers welfare in the short run …