As a result of debt enforcement problems, many high-productivity firms in emerging economies are unable to pledge … additional resources that flow to high-productivity firms after the reforms. We show that some of these resources do not come … from abroad, but instead from domestic low-productivity firms that are driven out of business as a result of the reforms …

distribution costs in the export market, high and low productivity firms react differently to a depreciation . Whereas high … productivity firms optimally raise their markup rather than the volume they export, low productivity firms choose the opposite … aggregate impact of exchange rate movements. The presence of fixed costs to export means that only high productivity firms can …

This paper analyses the welfare implications of international spillovers related to productivity gains, changes in …-equilibrium model with monopolistic competition, drawing a distinction between productivity gains that enhance manufacturing efficiency …

This paper analyzes empirically the effect of spatial agglomeration of activities on the productivity of firms using … location choice: we find very little difference between the geography that would maximize productivity gains and the geography …

these facts, we propose a simple model of sovereign risk in which debt can be traded in secondary markets. The model has two …