We set up a trade model with two countries, two sectors, and one production factor, which features a home-market effect due to the existence of trade costs. We consider search frictions and firm-level wage bargaining in the sector producing differentiated goods and a perfectly competitive labor market in the sector producing a homogeneous good. Consumers have price-independent generalized-linear preferences over the two types of goods, covering homothetic and quasi-homothetic preferences as two limiting cases. Due to the specific functional forms of indirect utility, homothetic preferences lead to risk aversion, while quasi-homothetic preferences lead to risk neutrality in our model. We show that trade between two countries that differ in their population size leads to an expansion of the differentiated goods sector and a contraction of the homogeneous good sector in the larger economy. This induces the larger country to net-export differentiated goods at the cost of a higher economy-wide rate of unemployment in the open economy (with the effects reversed for the smaller country). The welfare effects of trade depend on the preference structure. Looking at the two limiting cases, we show that the larger country is likely to benefit from trade if preferences are homothetic, whereas losses from trade are possible if preferences are quasi-homothetic. The opposite is true in the smaller country. This reveals an important role of preferences for the welfare effects of trade in the presence of labor market imperfection, a result we further elaborate on by considering more general preferences as well as differences of countries in their per-capita income levels.

我们建立了一个具有两个国家、两个部门和一个生产要素的贸易模型，由于存在贸易成本，该模型具有国内市场效应。我们考虑了生产差异化商品的部门中的搜索摩擦和公司层面的工资谈判，以及生产同质商品的部门中的完全竞争劳动力市场。消费者对两种类型的商品具有与价格无关的广义线性偏好，涵盖作为两个极限情况的同类和准同类偏好。由于间接效用的特定功能形式，在我们的模型中，同态偏好导致风险厌恶，而准同态偏好导致风险中性。我们表明，人口规模不同的两个国家之间的贸易会导致较大经济体中差异化商品部门的扩张和同质商品部门的收缩。这导致较大的国家以开放经济中较高的整体经济失业率为代价净出口差异化商品（对较小国家的影响相反）。贸易的福利效应取决于偏好结构。观察这两个极限情况，我们表明，如果偏好是相似的，较大的国家可能会从贸易中受益，而如果偏好是准相似的，则贸易可能会遭受损失。在较小的国家，情况正好相反。这揭示了在劳动力市场不完善的情况下，偏好对贸易福利影响的重要作用，