and import price dynamics in the aftermath of large devaluations. In particular, desired inventory adjustment in response … to a sudden, large increase in the relative price of imported goods creates a short-term trade implosion, an immediate …, temporary drop in the value and number of distinct varieties imported, as well as a slow increase in the retail price of …

Much of the variation in international trade volume is driven by firms' extensive margin decision to participate in …

cost to observe the determinants of the current profit maximizing price, and hence observe them infrequently. To generate …

also find that policy prescriptions based on static models can predict a loss from trade reform when our dynamic model …

competitive industries, the negative relation between past returns and current leverage will be attenuated. Theory suggests that …

develop a theory of the mechanism, provide empirical evidence, evaluate the ability of the quantitative theory to match the …