Globalization, Markups and U.S. Welfare
---- Acknowledgements ----
Previously circulated as "Globalization, Markups, and the U.S. Price Level." The authors thank Jessie Handbury, Morgan Hardy, Colin Hottman, and Philip Luck for excellent research assistance, along with Sam Kortum, Bob Staiger and seminar participants at the NBER, Stanford University, UCSD, and the University of Chicago for their comments. Financial support from the NSF is gratefully acknowledged. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.