NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

New Trade Models, New Welfare Implications

Marc J. Melitz, Stephen J. Redding

NBER Working Paper No. 18919
Issued in March 2013

---- Acknowledgements -----

We are grateful to Harvard and Princeton Universities for research support. This paper is a revised version of "Firm Heterogeneity and Aggregate Welfare," NBER Working Paper, 18919. We would like to thank the editor, four referees, conference and seminar participants at AEA, Harvard, Hong Kong, LSE, NBER, NYU, Paris, Princeton, UBC, Vancouver and Wharton, and Pol Antras, Costas Arkolakis, Ariel Burstein, Arnaud Costinot, Rob Feenstra, Gene Grossman, Gordon Hanson, Keith Head, Elhanan Helpman, Thierry Mayer, Gianmarco Ottaviano, Andres Rodriguez- Clare, Esteban Rossi-Hansberg, Jon Vogel and David Weinstein for helpful comments. We are also grateful to David Krisztian Nagy for research assistance. Responsibility for any results, opinions and errors is the authors' alone. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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