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Question 4: Costinot, Donaldson, Kyle and Williams (2019) Consider the paper by Costinot, Donaldson, Kyle and Williams (2019) on the empirical test of home market

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Question 4: Costinot, Donaldson, Kyle and Williams (2019) Consider the paper by Costinot, Donaldson, Kyle and Williams (2019) on the empirical test of home market effect. (a) What is the Home Market Effect? (b) Why do they want to look for exogenous demand variations? (c) What is the exogenous demand variation they exploit and how do they exploit it? (d) What are the main findings of the paper

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