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Off the Cliff and Back? Credit Conditions and International Trade during the Global Financial Crisis
Chor, Davin; Manova, Kalina - National Bureau of Economic Research (NBER) - 2010
imports. We show that credit conditions were an important channel through which the crisis affected trade volumes, by … limited access to trade credit, or have few collateralizable assets. Exports of financially vulnerable industries were thus … more sensitive to the cost of external capital than exports of less vulnerable industries, and this sensitivity rose during …
Persistent link: https://www.econbiz.de/10008619288
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Financial Development and the Choice of Trade Partners
Chan, Man Lung; Manova, Kalina - National Bureau of Economic Research (NBER) - 2013
What determines the choice of countries' trade partners? We show theoretically and empirically that financial market imperfections affect the number and identity of exporters' destinations. Bigger economies with lower trade costs are more attractive markets because they offer higher export...
Persistent link: https://www.econbiz.de/10010951412
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Credit Constraints, Heterogeneous Firms, and International Trade
Manova, Kalina - National Bureau of Economic Research (NBER) - 2008
development increases countries' exports above and beyond its impact on overall production. Firm selection into exporting accounts … for a third of the trade-specific effect, while two thirds are due to reductions in firm-level exports. Second …, financially advanced economies export a wider range of products and their exports experience less product turnover. Finally, while …
Persistent link: https://www.econbiz.de/10005720470
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Time to Ship During Financial Crises
Berman, Nicolas; Martin, Philippe; Sousa, José De; … - National Bureau of Economic Research (NBER) - 2012
We show that the negative impact of financial crises on trade is magnified for destinations with longer time-to-ship. A simple model where exporters react to an increase in the probability of default of importers by increasing their export price and decreasing their export volumes to...
Persistent link: https://www.econbiz.de/10010969303
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Trade Models, Trade Elasticities, and the Gains from Trade
Simonovska, Ina; Waugh, Michael E. - National Bureau of Economic Research (NBER) - 2014
We argue that the welfare gains from trade in new models with micro-level margins exceed those in frameworks without these margins. Theoretically, we show that for fixed trade elasticity, different models predict identical trade flows, but different patterns of micro-level price variation. Thus,...
Persistent link: https://www.econbiz.de/10010951002
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Multi-Product Firms and Product Quality
Manova, Kalina; Zhang, Zhiwei - National Bureau of Economic Research (NBER) - 2012
This paper proposes that quality differentiation is an important feature of the operations of multi-product firms. We develop a model in which manufacturers vary product quality across their product range by using inputs of different quality levels. Firms' core competency is in varieties of...
Persistent link: https://www.econbiz.de/10010951043
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Skill Premium and Trade Puzzles: a Solution Linking Production and Preferences
Markusen, James R.; Caron, Justin; Fally, Thibault - National Bureau of Economic Research (NBER) - 2012
International trade theory is a general-equilibrium discipline, yet most of the standard portfolio of research focuses on the production side of general equilibrium. In addition, we do not have a good understanding of the relationship between characteristics of goods in production and...
Persistent link: https://www.econbiz.de/10010951389
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Estimating Trade Flows: Trading Partners and Trading Volumes
Helpman, Elhanan; Melitz, Marc J.; Rubinstein, Yona - National Bureau of Economic Research (NBER) - 2007
We develop a simple model of international trade with heterogeneous firms that is consistent with a number of stylized features of the data. In particular, the model predicts positive as well as zero trade flows across pairs of countries, and it allows the number of exporting firms to vary...
Persistent link: https://www.econbiz.de/10005084588
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Putting the Lid on Lobbying: Tariff Structure and Long-Term Growth when Protection is for Sale
Nunn, Nathan; Trefler, Daniel - National Bureau of Economic Research (NBER) - 2006
It has long been recognized that a country's tariffs are the endogenous outcome of a rent-seeking game whose equilibrium reflects national institutions. Thus, the structure of tariffs across industries provides insights into how institutions, as reflected in tariff policies, affect long-term...
Persistent link: https://www.econbiz.de/10005085091
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Measuring the Upstreamness of Production and Trade Flows
Antras, Pol; Chor, Davin; Fally, Thibault; Hillberry, … - National Bureau of Economic Research (NBER) - 2012
explores the determinants of the average upstreamness of exports at the country level using trade flows for 2002. …
Persistent link: https://www.econbiz.de/10009652870