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Firms' Export Dynamics : Experience vs. Size
Berthou, Antoine - 2013
and the second year of export is biased upwards because new exporters may start exporting late during the year. This … incomplete calendar year reduces export revenue by 32% on average for the first year of export. We then show that, controlling … for size, export experience is negatively related to net growth of exports for surviving exporters. Controlling for export …
Persistent link: https://www.econbiz.de/10013072988
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Export Dynamics and Sales at Home
Berman, Nicolas - 2014
Using a French firm-level database that combines balance-sheet and product-destination-specific export information over …
Persistent link: https://www.econbiz.de/10013049576
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Firms and the Global Crisis : French Exports in the Turmoil
Bricongne, Jean-Charles - 2010
firms, matching together export data with firm-level credit constraints, shows that most of the 2008-2009 trade collapse is …
Persistent link: https://www.econbiz.de/10013138158
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How Exporters Set Prices : Evidence from a Large Behavioural Survey
Parker, Miles - 2017
export prices. Larger, and more productive firms, are more likely to differentiate prices across markets. Primary sector …
Persistent link: https://www.econbiz.de/10012963953
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Exports and Sectoral Financial Dependence : Evidence on French Firms During the Great Global Crisis
Bricongne, Jean-Charles - 2010
The unprecedented drop in international trade during the last quarter of 2008 and the first quarter of 2009 has mainly been analysed at the macroeconomic or sectoral level. However, exporters who are heterogeneous in terms of productivity, size or external financial dependence should be...
Persistent link: https://www.econbiz.de/10013141112
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Inflation Risk Premia in the US and the Euro Area
Hördahl, Peter - 2010
We use a joint model of macroeconomic and term structure dynamics to estimate inflation risk premia in the United States and the euro area. To sharpen our estimation, we include in the information set macro data and survey data on inflation and interest rate expectations at various future...
Persistent link: https://www.econbiz.de/10013135685
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The Janus-Headed Salvation : Sovereign and Bank Credit Risk Premia during 2008-09
Ejsing, Jacob - 2012
As the global banking crisis intensified in the fall of 2008, governments announced comprehensive rescue packages for financial institutions. In this paper, we put the joint response of euro area bank and sovereign CDS premia under the microscope. We find that the bank rescue packages led to a...
Persistent link: https://www.econbiz.de/10013116569
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Government Bond Risk Premia and the Cyclicality of Fiscal Policy
Christoffel, Kai Philipp - 2011
We introduce a specification of habit formation featuring non-separability between consumption and leisure into an otherwise standard New Keynesian model. The model can be estimated with standard Bayesian techniques and the bond pricing implications are evaluated using higher-order...
Persistent link: https://www.econbiz.de/10013117682
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Macroeconomic Implications of Time-Varying Risk Premia
Gourio, Francois - 2012
A large empirical literature suggests that risk premia on stocks or corporate bonds are large and countercyclical. This paper studies a simple real business cycle model with a small, exogenously time-varying risk of disaster, and shows that it can replicate several important facts documented in...
Persistent link: https://www.econbiz.de/10013102105
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Liquidity and Credit Risk Premia in Government Bond Yields
Ejsing, Jacob - 2012
This paper quantifies liquidity and credit premia in German and French government bond yields. For this purpose, we estimate term structures of government-guaranteed agency bonds and exploit the fact that any difference in their yields vis-`a-vis government bonds can be attributed to differences...
Persistent link: https://www.econbiz.de/10013106056