This article takes the set of Portuguese markets and computes a new competition measure suggested by Boone (2008), which draws on the concept of profit elasticity to marginal costs in a given market. The article concludes that the majority of markets presented a reduction in competition in the...

We compare the survival of new domestic and foreign owned firms. We analyze the determinants of the survival of new firms and investigate whether foreigness accounts for significant differences in the survival of new foreign and new domestic firms. We find survival to be determined by ownership...

Estimating the impact of bank mergers on credit granted and on interest rates requires a framework that allows to disentangle the effect of changes in market structure generated by mergers from the effects arising from changes in banks’ operating environment. However, most of the literature on...

We analyze the patterns of international joint venture termination, to compare the learning and trust views of joint ventures. We distinguish between three ways in which termination may occur and allow for the possibility that some joint ventures never confront the chances of terminating in...

This article offers an extensive overview of competition indicators in the Portuguese economy in the period 2000-2009. The article covers qualitative competition indicators as well as classicalprofitability and concentration measures, focusing on the differences between tradable and non-tradable...

International economics has overwhelmingly relied on Samuelson's (1954) assumption that trade costs are proportional to value. We develop a quantitative analytical framework that features both additive and multiplicative (iceberg) trade costs, building on a model of international trade with...

Traditionally, exports behavior is modeled only as a function of the foreign demand and the real exchange rate. However, it is by now widely acknowledged that these variables are not able to fully explain exports developments. This paper suggests considering domestic demand pressure as an...

In this paper we propose a framework for studying export dynamics and market specific flows in a multicountry model of trade with heterogenous firms.<br>Countries are asymmetric in terms of their size, the size distribution of potential entrants, properties of firms idiosyncratic shocks, and trade...

This paper introduces persistent productivity shocks in a continuous-time mononopolistic competition model of trade with hetererogenous firms similar to Melitz (2003). In our model, the presence of sunk costs and uncertainty have three main consequences: first, firms export decisions become...

This article addresses the competition faced by exporters as a particular motivation to compute an effective exchange rate, discussing some important implications of the simplifying assumptions usually made regarding the selection of competitors and differences in product specialization....