With international trade increasingly undertaken within vertically fragmented supply chains, this paper considers the impact of changes in trade costs on domestic output. In the context of the UK’s exit from the EU we show that the negative impact on UK output will depend on changes in both domestic and export competitiveness. Since for many firms the majority of their sales are to the domestic market, the domestic competitiveness impact may be quantitatively more important. The impact on output will be more significant the greater the integration of firms in international supply chains, and the greater the asymmetric impact of leaving the EU on UK firms relative to EU firms.

中文翻译：

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价值链与国内竞争力

随着国际贸易越来越多地在垂直分散的供应链中进行，本文考虑了贸易成本变化对国内产出的影响。在英国退出欧盟的背景下，我们表明对英国产出的负面影响将取决于国内和出口竞争力的变化。由于对许多公司来说，他们的大部分销售都是针对国内市场的，因此国内竞争力的影响可能在数量上更为重要。企业在国际供应链中的整合程度越高，以及相对于欧盟企业而言，离开欧盟对英国企业的不对称影响越大，对产出的影响就越大。