Firms in Product Space

About the seminar topic

Which products are efficiently produced together and which firms supply which products? Modelling multiproduct firms under variable markups, we estimate firms’ absolute advantages for produced products and develop an algorithm to predict them for unproduced products. Better advantages imply increased product adoption and explain which firms supply products when export demand induces domestic adoption. Predicted advantages and markups imply measures of revenue and competition potential which explain firm sales and scope growth. If all firms produced all potential products, consumer welfare could increase by 16-30% under constant markups, rising to 46-86% under variable markups.

Speaker bio

Dr John Morrow is a Senior Lecturer in Economics at Queen Mary University of London and is affiliated with the Centre for Economic Performance (CEP) and the Centre for Economic Policy Research (CEPR). His research focuses on how firms respond to economic changes, such as trade and industrial policies and the resulting impacts on productivity and efficiency, particularly in developing countries.

Dr Morrow completed his PhD at the University of Wisconsin-Madison and has received accolades such as the FIW Young Economist Award and the ETSG Chair Jacquemin Prize. He has previously taught at institutions including the London School of Economics, the University of Essex and King’s Business School. At Queen Mary, he teaches courses on International Trade and Trade and Firm Behaviour at postgraduate levels. His research has been published in leading journals, such as the Journal of Political Economy and the Journal of Industrial Economics.

No registration required

No registration required. If you have any questions about this seminar, please email Emily Brown.