Wagner, Rodrigo; Zahler, Andrés - In: Journal of Development Economics 114 (2015) C, pp. 203-223
We study the micro dynamics of new exports from a country. The modern international trade workhorse models (e.g. Melitz, 2003) assume heterogeneous productivity and, implicitly, predict that the ex-post largest exporters in a new product would be the pioneers, since they can pay back exploration...