Showing 1 - 10 of 3,755
We document how demand shocks in export markets lead French multi-product exporters to re-allocate the mix of products … sold in those destinations. In response to positive demand shocks, those French firms skew their export sales towards their … increased competition from demand shocks in export markets - and the induced product mix reallocations - induce productivity …
Persistent link: https://www.econbiz.de/10012456244
The competitive shock to the U.S. manufacturing sector spurred by rising China import competition could either catalyze … analysis of the effect of surging import competition on U.S. innovative activities. Applying a novel internet-based matching … adjustment and for all measures of valuation suggest that the primary response of firms to greater import competition is to scale …
Persistent link: https://www.econbiz.de/10012455801
In the Belle Époque, Belgium recorded an unprecedented trade boom, but growth in output per capita was lackluster. We …
Persistent link: https://www.econbiz.de/10012457815
We study how increased import competition affects the evolution of firm-product technical efficiencies in the small … open economy of Belgium. We observe quarterly firm-product data at the 8-digit level on quantities sold and firm … find that a 0.01 increase in the import share leads to a 1.05% gain in technical efficiency. This elasticity translates …
Persistent link: https://www.econbiz.de/10012455045
Has rising import competition contributed to the polarization of U.S. politics? Analyzing outcomes from the 2002 and …. Exploiting the exogenous component of rising trade with China and classifying legislator ideologies by congressional voting … records, we find strong evidence that congressional districts exposed to larger increases in import penetration …
Persistent link: https://www.econbiz.de/10012456043
Persistent differences in interest rates across countries account for much of the profitability of currency carry trade strategies. "Commodity currencies'' tend to have high interest rates while low interest rate currencies belong to exporters of finished goods. This pattern arises in a...
Persistent link: https://www.econbiz.de/10012459290
We provide a general non-parametric formula for aggregating microeconomic shocks in general equilibrium economies with distortions such as taxes, markups, frictions to resource reallocation, and nominal rigidities. We show that the macroeconomic impact of a shock can be boiled down into two...
Persistent link: https://www.econbiz.de/10012453706
How strong are strategic complementarities in price setting across firms? In this paper, we provide a direct empirical estimate of firm price responses to changes in prices of their competitors. We develop a general framework and an empirical identification strategy to estimate the elasticities...
Persistent link: https://www.econbiz.de/10012456555
We document the behavior of trade prices during the Great Trade Collapse of 2008-2009 using transaction-level data from the U.S. Bureau of Labor Statistics. First, we find that differentiated manufactures exhibited marked stability in their trade prices during the large decline in their trade...
Persistent link: https://www.econbiz.de/10012461064
Customs data reveal heterogeneity and granularity of relationships among buyers and sellers. A key insight is how more exports to a destination break down into more firms selling there and more buyers per exporter. We develop a quantitative general equilibrium model of firm-to-firm matching that...
Persistent link: https://www.econbiz.de/10012814460