Gopinath, Gita; Itskhoki, Oleg; Neiman, Brent - In: IMF Economic Review 60 (2012) 3, pp. 303-328
The paper documents the behavior of trade prices during the Great Trade Collapse of 2008–09 using transaction-level data from the U.S. Bureau of Labor Statistics. First, the paper finds that differentiated manufactures exhibited marked stability in their trade prices during the large decline...